The number of people living in houses they own has dropped, as the cost of buying or renting has skyrocketed and demand for homes by Greek and foreign buyers has strengthened.
The housing problem is now acute and Greece must find ways of dealing with it while lacking any social housing tools, in contrast to the rest of Europe, where such interventions cover 20%-30% of the market.
Cypriot Interior Minister Konstantinos Ioannou introduced the government's new housing policy on Tuesday.
In his opening statement, he outlined a comprehensive plan involving multiple levels of actions and measures, which allocates 77 million euros over a five-year period for the implementation of specific initiatives.
Huge projects are due to deliver new neighbourhoods in Prague. Photo: Central Group Priced out
In the Hungarian capital, buyers need more than 16 average annual salaries to buy a 75 square metre (m2) apartment. This means that if you start working at 23 and miraculously don't spend on anything else, at 40 you can own a home. This trend accelerated especially from 2015 on.
Within the scope of the İlk Evim (My First Home) Project, the first drawing of lots for Istanbul's Tuzla district took place on March 16, with owners of 20,920 new houses determined already.
The draw was held at Tuzla Viaport Marina in the municipality's event tent at 10 a.m. and was broadcast live online.