Cypriots invest surplus income in home purchase or renovation

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Cypriots invest surplus income in home purchase...
 © In-Cyprus 2020
Cypriots prefer to invest any surplus income in the purchase of a new home or renovation of existing ones rather than saving it in banks, according to the 2019 Fiscal Council Autumn report.

Despite the island’s economic recovery and the significant reduction in unemployment, household savings in Cyprus remain at very low levels compared to other EU countries, the report also said.

In fact, data shows that after 2013 the households’ savings rate began to decline and even had a negative sign as a percentage of gross disposable income.

In 2013 it stood at -1.8% and...


This article was automatically added to our system 14-11-2019

Cypriots invest surplus income in home purchase or renovation


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Article Tags: cypriots, invest, surplus, income, purchase, renovation,