Homeownership In Cyprus: How It Compares To The EU In 2023

by THEFUTURE.TEAM

December 30, 2024

In 2023, approximately 68.8% of Cypriots owned the homes they lived in, slightly below the EU average of 69.2%, according to Eurostat, the statistical agency of the European Union.

Conversely, 31.2% of Cyprus residents lived in rented accommodation, which is marginally higher than the EU average of 30.8%.

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Homeownership Across The EU

The data reveals notable differences in homeownership rates across member states:

Highest homeownership rates:
- Romania: 95.6%
- Slovakia: 93.6%
- Croatia: 91.2%

Lowest homeownership rates:
- Germany: 47.6%
- Austria: 54.3%
- Denmark: 60.0%

These figures highlight a diverse landscape of housing preferences and economic factors shaping living arrangements across Europe. While Cyprus aligns closely with the EU averages, its homeownership rate remains well below the highest-ranking countries but significantly higher than those with the lowest rates.

This snapshot underscores the evolving dynamics of homeownership and rental trends in both Cyprus and the broader European Union.

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MENA Tech Index Fell 4.6% In July, But Outperformed Global Tech

by THEFUTURE.TEAM

August 25, 2026

The MAGNiTT Tech Index fell 4.6% in July, marking its second consecutive monthly decline as technology stocks weakened across global markets. MGTI closed the month at 165.24, down 4.76% in 2026 and 24.88% from its January 2025 peak.

Despite the decline, the index remained 65.24% above its January 2023 inception level. Its lower correlation with global technology benchmarks also limited its exposure to the broader technology sell-off.

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Saudi Technology Stocks Lead The Decline

Saudi technology companies accounted for much of July’s decline. Nice One fell 21.3%, Jahez dropped 17.2%, and Rasan declined 15.7%, while Talabat gave back part of its second-quarter recovery.

Only three of the index’s 15 constituents ended July higher. MGTI also underperformed regional equity markets, with Saudi Arabia falling 1.89% and Dubai declining 2.69% during the month.

MGTI Shows Lower Correlation With Global Tech

July marked a reversal in global technology stocks, with MSCI EM IT falling 12.81% and MSCI ACWI IT declining 5.64%. MGTI’s lower correlation with those benchmarks limited the decline, with a correlation of 0.36 to MSCI EM IT.

The index also has limited exposure to semiconductors and large-cap AI companies that have driven much of the recent global technology rally. Its performance therefore differs from the broader global technology cycle.

MGTI Remains Above Its 2023 Level

MGTI has gained 65.24% since its January 2023 inception despite its recent declines. The index entered August down 4.76% for 2026 and nearly 25% below its January 2025 peak.

The MAGNiTT Tech Index July 2026 Monthly Update includes constituent-level performance, regional and global benchmark comparisons, and data on correlation, beta and volatility.

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