One of the biggest problems in Cyprus, particularly in the increasingly cosmopolitan city of Limassol, is the skyrocketing property prices. There is a high demand for both sales and rentals and according to the economic principle of supply and demand, prices are determined accordingly.
However, as some of the greatest economists have pointed out when ethics are not considered in the ‘demand’ variable, inequalities widen, injustices become glaring, and the so-called ‘social fabric’ is severely strained.
For instance, selling water at a premium price to stranded travellers in a desert is a crime of the highest order. The merchant who does so is simply vulgar.
This situation in Cyprus, and now also in Greece (mainly in Athens), has adversely affected those at the beginning of their professional careers. I am referring to students who do not have the option to live with their parents, especially those from other provinces. I am also talking about young professionals starting their first jobs and their new lives, often with low initial salaries that gradually increase with performance.
In Cyprus, for example, it is common knowledge that there is a shortage of nursing staff. Many hospitals hire people from Greece and other countries. However, when the rent for a one-bedroom apartment in Limassol today exceeds €1,500 and even reaches €1,700 (according to accounts of those who are searching), what should be the starting salary of a specialised nurse, radiologist, or technician from abroad?
This issue has multiple facets, and we won’t cover them all today, but we will continue the discussion. The extensions and implications are enormous. Consider that, in both Greece and Cyprus, we are nearing the record set by Italians, where for over a decade now, young adults, even those over 30, live in their childhood bedrooms in their parents’ homes.
We all know that if this phenomenon persists and becomes chronic, it becomes problematic, if not pathological.
To conclude this brief mention today, I will quote a relevant passage written recently by Maria Dedoussi in Protagon, which illustrates how this phenomenon of greed can turn into a source of great shame:
“This news makes you want to pull your hair out. Or, rather, it would if you didn’t live in this country and didn’t know better. The regional governor of Thessaly issued an announcement stating that doctors transferred to Skiathos from the 5th Healthcare Region have asked him to cover their rents, which amount to €2,500 per month, as requested by the landlords. So, these people come to your island to take care of you or teach your children on meagre salaries, and you charge them to rent as if they were German tourists, at a rate of €100 per day. And if they don’t come (as most are forced to), you’ll complain that the Health Center in your town or village is understaffed. Are you not ashamed at all?”
Obviously, they are not…
