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Nearly 17% of Cypriots Struggled To Heat Their Homes In 2023

According to the latest data from Eurostat, the European Union’s statistical agency, 16.9% of Cypriots were unable to adequately warm their homes in 2023, significantly higher than the EU average of 10.6%.

While the percentage marks an improvement for Cyprus—down 2.3 percentage points from 19.2% in 2022—it contrasts with a rising trend across the EU, where the average increased by 1.3 percentage points from 9.3% the previous year.

Spain and Portugal topped the list of countries with the highest proportion of residents struggling to heat their homes, both at 20.8%, closely followed by Bulgaria (20.7%), Lithuania (20.0%), and Greece (19.2%).

On the other end of the spectrum, Luxembourg reported the lowest share of residents facing this issue at just 2.1%, with Finland (2.6%), Slovenia (3.6%), Austria (3.9%), and Estonia (4.1%) also ranking among the least affected nations.

Despite overall economic recovery efforts, the data highlights the persistent challenge of energy affordability in some parts of Europe, particularly in Southern and Eastern regions.

doValue Cyprus Strengthens Market Leadership With New Astrobank Portfolio

Expanding Market Influence

Loan and real estate management firm doValue Cyprus has significantly reinforced its domestic presence in non-performing loan servicing by acquiring a new portfolio from Astrobank Public Company Limited. This development follows Astrobank’s recent transition, marked by the transfer of key operations to Alpha Bank Cyprus Limited and the subsequent surrender of its banking licence.

Strategic Acquisition And Swift Execution

Finalized on November 3, 2025, the agreement underscores a decisive strategic shift as doValue Cyprus assumes management of Astrobank’s remaining portfolio. The immediate commencement of portfolio management is a testament to the firm’s commitment to delivering specialized, resilient solutions within the non-performing loan market.

Expertise Driving Market Growth

Chief Executive Officer Varnavas Kourounas emphasized that the latest portfolio acquisition not only expands the firm’s operational footprint but also validates its credibility and deep expertise in the competitive Cypriot financial sector. The strategic move is aligned with the broader growth ambitions of the doValue Group.

Broader Market Implications

Operating as part of the international doValue Group—the largest independent loan and real estate management organization in Southern Europe—doValue Cyprus is well-positioned to leverage its newly expanded portfolio. With approximately €136 billion in assets under management, the group maintains a dominant presence across Italy, Greece, Spain, Portugal, and Cyprus. Moreover, its subsidiary, Altamira Real Estate, runs Cyprus’ largest real estate platform, managing extensive property portfolios alongside the island’s most comprehensive sales network.

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