Cyprus government launches two housing schemes offering state land discounts and building incentives for families
President Nikos Christodoulides announced two new housing schemes approved by the cabinet to support young people and families with their housing needs. One scheme allows 570 state-owned plots to be sold at just 25% of their value, reducing land acquisition costs significantly. The second offers incentives to families developing existing homes or plots, even if they exceed permitted building coefficients.
The first scheme enables families to build additional homes for children or grandchildren by expanding residences or constructing new floors on existing properties. This initiative aims to provide flexible housing solutions despite previous building limits. Christodoulides emphasized the government's commitment to prioritizing housing, highlighting over €300 million invested in more than ten housing projects since taking office.
Additionally, fast-track licensing processes introduced by the government have assisted over 15,000 families in acquiring permits more efficiently. Christodoulides described the overall approach as focusing on increased housing availability, better use of state land, collaboration with the private sector, and practical solutions for citizens.
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