CYPRadar 🇨🇾🏠 Cyprus Tops Europe in Attractiveness for Millionaires Amid Housing Crisis
Cyprus has secured the highest score among European countries in the Henley Private Wealth Migration Report 2026, making it the continent's most structurally attractive destination for millionaire mobility. The island received a Wealth Mobility Competitiveness Score of 73.5, surpassing traditional economic leaders like the Netherlands, Portugal, and Italy. This reflects Cyprus's appeal based on tax policies, quality of life, political stability, and rule of law.
However, the influx of affluent residents and international corporations has intensified a local housing and cost of living crisis, especially in Limassol. Rental prices in the city now rival major European capitals, pricing many local residents and young families out of the housing market. Average domestic salaries of €2,400 per month are insufficient to cover escalating accommodation costs, forcing many into inadequate living conditions.
Tragically, this economic inequality has contributed to fatal incidents in substandard housing, including fires and collapses in overcrowded neighborhoods. Experts warn that while Cyprus's attractiveness to wealthy individuals grows, urgent measures are needed to address the worsening social and housing challenges faced by its native population.
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