Cyprus Government Launches Two New Housing Schemes to Boost Affordable Homes
The Cyprus government has unveiled two new housing schemes aimed at expanding affordable housing options. One scheme allows families to add an extra floor to existing homes, even if the current building density limit has been reached, primarily to accommodate children or grandchildren. This initiative seeks to optimize the use of existing property and reduce construction costs.
The second scheme involves allocating state-owned plots at 25% of their market value to eligible Cypriot families under 45 years old, including those with children, couples, and single parents. This initiative targets low- to middle-income households and aims to support local communities, especially in rural and mountainous areas.
Interior Minister Constantinos Ioannou highlighted these schemes as part of a broader housing policy to increase the housing stock and improve citizens’ access to homes. The government is also progressing with multiple housing projects and faster building approvals, reflecting its commitment to addressing housing shortages and affordability across Cyprus.
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