According to Eurostat data released on Monday, Cypriots are leaving their parental homes at an average age of 27.2 years in 2023, a figure that has remained stable since 2016. The report highlights that during the years of the economic memorandum and uncertainty, young people in Cyprus lived with their parents for longer periods.
In 2013, during the adjustment period of the memorandum, the average age of young people moving out was 27.8 years, with the figure rising to 28.4 years in both 2014 and 2015. Since 2016, this average has held steady, except for a brief drop to 26.8 years in 2018.
Economic factors, such as high rents, rising living costs, and low wages, pose significant challenges for young men and women seeking independence. Renting a small apartment typically exceeds €500 per month, while even one-bedroom flats are scarce and start at around €400.
Eurostat noted that moving out of the family home is a key milestone in transitioning from adolescence to adulthood, influenced by various factors, including family relationships, job market conditions, cultural habits, and housing costs.
In the broader EU context, 10.1% of young people aged 15 to 29 lived in households spending 40% or more of their disposable income on housing in 2023. The average age of young individuals leaving their parental homes across the EU was 26.3 years, down slightly from 26.4 the previous year.
Among EU member states, the highest average age of individuals moving out was recorded in Croatia (31.8 years), Slovakia (31 years), Greece (30.6 years), and Spain (30.4 years). In contrast, the lowest averages, all below 23 years, were found in Finland (21.4 years), Sweden and Denmark (both 21.8 years), and Estonia (22.8 years).
In 2023, 26% of young people aged 15 to 29 in the EU lived in overcrowded households, significantly higher than the overall population rate of 16.8%. The highest proportions of young individuals in overcrowded living conditions were reported in Romania (59.4%), Bulgaria (55.3%), and Latvia (54.8%). Conversely, the lowest rates were noted in Malta (3.9%), Cyprus (4%), and Ireland (4.4%).
