More people, fewer families, more houses, fewer vacation homes.

The Cyprus Statistical Service (Cystat) has published a snapshot of the 2021 census, including the number of people and housing units (houses and apartments) for each municipality and community across Cyprus.

The previous snapshot provided information about household sizes in Cyprus by region. Combining the two datasets allows us to gain a wonderful insight into how the country has changed over this period.

In 2011, Cyprus had 840,407 permanent residents and 433,212 housing units. By 2021, these figures had risen to 923,272 permanent residents (+82,865 / 10%) and 492,555 housing units (+59,343 / 14%). The average household size in 2011 was 2.8 people, while in 2021 it decreased to 2.6 people. During the period from 2011 to 2021, the population increased, but the size of households (families) decreased.

The tables below break down the population and housing by districts, indicating how they have changed.

What's happening?

General ideas about Cyprus

The overall growth of both the population (an increase of 10%) and residential properties (an increase of 14%) indicates a stable real estate market with rising demand. The difference between the growth rates of the population and residential properties suggests potential for the construction of multi-family buildings or residential complexes with higher density. The decrease in household size from 2.8 to 2.6 over the decade indicates a shift in living preferences and may point to a growing market for smaller, more modern living spaces or apartments, which is often seen in urbanizing regions. The reduction in the percentage of vacant/secondary homes from 31% to 28% indicates that more properties are transitioning from the category of investment or vacation homes to primary residences. This change suggests potential for long-term investments in real estate, as more people choose to live permanently in these areas.

Population growth and housing

From 2011 to 2021, Cyprus experienced a population growth of 10% (82,865 people), increasing from 840,407 to 923,272 people. The number of housing units, on the other hand, grew at a faster rate - by 14% (59,343 additional housing units) over the decade. This was accompanied by a decrease in household size, which fell from 2.8 to 2.6 people per housing unit.

Urban centers and district dynamics

The most significant population growth in absolute terms was recorded in Limassol, with an increase of 26,908 residents, while Nicosia closely followed with 23,844 new residents. In percentage terms, Famagusta took first place with a population growth of 16%, while Paphos was not far behind with a 13% increase. Although urban centers are growing in absolute numbers, other areas are growing faster in relative terms.

Household size and secondary homes

The trend towards smaller household sizes aligns with global trends and can be explained by various factors such as urbanization and changing social norms.

Dynamics of residential space distribution

In the areas of Paphos, Famagusta, and Larnaca, there has been the most significant change in permanently inhabited residential properties. Paphos increased by 7,002 (22%), Famagusta by 4,443 (26%), and Larnaca by 8,310 (17%). Nicosia and Limassol have more stable figures. Permanent housing in Nicosia grew by 13,829 (11%), while Limassol recorded an increase of 12,508 (15%).

The trend of secondary homes

The overall decrease in the percentage of vacant/secondary homes across the country was 31% in 2011 and 28% in 2021. Larnaca is particularly interesting: there was a significant increase in permanent housing - 8,310, but only a slight increase of 247 secondary homes. This means that while more and more people are making Larnaca their home, its appeal as a vacation or investment destination remains relatively stable.

As a result, between 2011 and 2021, significant demographic and housing changes occurred in Cyprus. The urban centers of the country, Nicosia and Limassol, continue to grow in population and the number of housing units. At the same time, the decrease in household size and the increase in the percentage of permanently occupied homes indicate a shift in economic, social, and market dynamics.

P.S. The figures mentioned above have been significantly distorted since 2022, when there was an influx of people to Cyprus from Ukraine, Russia, Belarus, Lebanon, and Israel. It is estimated that around 30,000 to 40,000 people moved to Cyprus, mainly to the coastal cities of Limassol, Larnaca, and Paphos.