Housing

The first tender that will allow private companies to use state-owned real estate for construction in exchange for building social housing alongside commercial properties, will take place before the end of the year, Economy and Finance Minister Kostis Hatzidakis has said.

Around 20-25 years ago, Cyprus was renowned for having one of the highest rates of homeownership globally, with figures nearly reaching 78-80%, as per the data available then. This statistical achievement often garnered admiration during discussions, both substantive and academic, as such high rates were uncommon in comparable contexts elsewhere.

Job vacancies in Cyprus rose by an annual rate of 7.3% in the first quarter of 2024, whereas they rose by almost 10% compared with the fourth quarter of 2023.

An average home price in Türkiye was 3.4 million Turkish Liras ($103,000) in May, according to the numbers from Endeksa, which compiles data on the real estate market.

Home prices rose 48.47 percent annually, while the monthly increase was 0.36 percent.

You won't see Giorgos sleeping rough but he is still at risk of finding himself back on the streets, homeless and alone, as he was four years ago, when his small mom-and-pop business went bust after hobbling through the crisis.

Authorities are working on the establishment of special real estate investment funds that will increase home supply and help reduce property prices, Treasury and Finance Minister Mehmet Şimşek has said.

The high-rise apartments - some with panoramic views of Singapore's tropical cityscape - are airy, light-filled and spacious enough to comfortably raise a family. They are also public housing units, and for decades were emphatically affordable, giving Singapore an enviable rate of homeownership.

The government's ambitious plan for affordable housing, dubbed the social compensation program, entails the construction of apartment blocks on public land with private funds and renting them out at low rates.

The program will focus on finding affordable housing for young people aged 18-39, using public properties through public-private partnerships, or PPPs.

New data from the National Statistical Institute (NSI) sheds light on the housing landscape in Bulgaria, painting a picture of the majority of Bulgarians residing in older homes.

Lower-income households carry a far heavier burden than others due to continued price hikes, not only because of the mismatch in the growth of incomes and especially of those who live from wage labor in the last 4.5years, but also because the expenses they mainly make, on food and rent, are those in which the largest appreciations are recorded.