The Cypriot Cabinet has given the green light to an updated housing support scheme that's going to help develop the mountainous and remote areas of Cyprus.
Interior Minister Constantinos Ioannou says that 50 new villages have been added to the scheme. It's thought this will cover a wider area.
The plan got the green light after the Interior Ministry teamed up with the Department of Urban Planning and Housing and the Office of the Commissioner for Mountain Community Development to put together a study. Nouris said the government is doing its best to support rural areas and stop people leaving, especially young people.
The government's main goal is to put together a full package of actions and projects to give the highlands a boost, Ioannou said.
Just to remind you, the scheme offers financial support to applicants up to 50% of the total value of the property. The grants are paid in two parts. The first instalment is paid as an advance when you get the go-ahead to build, buy or repair a home. The second comes after all the work is done.
The amount of the state grant for programme participants is as follows:
- for bachelors - €20,000,
- for couples - up to €30,000,
- for families with children or single-parent families - up to €35,000,
- for couples whose age is not more than 4. If you're applying, you can get up to €45,000 for one year. If you're a couple with children and you're both under 41, you can get up to €50,000. And if you've got four or more kids, you can get up to €55,000.
The minister said that the scheme implemented last year was an unprecedented success. The grants were used by 21,200 people, and the total amount of assistance provided was about 15 million euros. Areas bordering the Green Line were particularly popular. The emphasis will now be on the mountainous regions.
I wondered if there was a grant available for renovation .
I do plan to upgrade the house and then resell .
Thanks
Jeff