In the tenth episode of MoneyTalks, we turn our attention to architecture and urban development and explore how the current housing crisis and urban planning are reshaping daily life and the economy in Cyprus.

Together with Andreas Papallas, an architect, researcher, and Associate Director at Architecture Design Practice (ADP), we unpack the challenges of the market and analyze the importance of incorporating human-centered design through Design Thinking. We examine the Cypriot housing paradox, where the existence of thousands of vacant properties coexists with skyrocketing prices, making homeownership an unattainable dream for the younger generation, and we analyze how total dependence on cars and urban sprawl drive up infrastructure costs. We discuss the need to demystify the notion of compulsory homeownership in favor of professional flexibility, the pitfalls of government subsidies that are often absorbed by the market, and the fine line between true sustainability and marketing. At the same time, we highlight the critical issue of the structural resilience of older buildings in the face of the climate crisis and the role of the newly established Provincial Local Government Organizations (EOA) in documenting them. From the integration of Artificial Intelligence (AI) as a tool that unlocks creativity in design, to how architectural studies open unexpected doors to global giants in gaming and animation, we demonstrate that the profession is, first and foremost, a broader way of thinking.

In a casual discussion, we explore the prospects offered by the revision of Local Plans and sustainable European practices, seeking the solutions that will shape the future of our housing.