President prevaricates about increased demand for housing in Cyprus displacing residents | Cyprus Mail

Cyprus is facing a critical situation when it comes to housing affordability and a host of indicators paint a bleak picture that requires immediate attention. President of the Cyprus Real Estate Agents Registration Board Marinos Kineiro said. "The data lies in front of us and it is merciless," Kineyrou noted, emphasizing that "the figures tell the truth." "Something needs to be done soon, as buying a home, whether a full purchase or renting, is becoming increasingly difficult," he added.

Housing affordability problems in Cyprus

The president of the Real Estate Agents Registration Board, Marinos Kineiro, said that while the problem is not unique to Cyprus as many developed countries face similar''visitors

In addition, Kineiro said the recent turmoil in Israel is also expected to attract more Israelis to Cyprus for security reasons, just as Ukrainians and Russians have done after the war in Ukraine.

The need for immediate action

What's more, Chineiro emphasized the importance for the government to immediately take''measures to address the problem by creating a comprehensive strategy aimed at achieving both long-term results and immediate solutions. "We are no longer just talking about the right to property (in the legal sense) as defined in the Cyprus Constitution, but about the possibility of access to housing and what this means for the residents of the country," he concluded.