The Cyprus Land Development Organization (KOAG) announced the launch of a new affordable housing project called Danae V in the Kokkino Trimithia area of Nicosia.
As part of this initiative, construction has begun on ten modern 3-bedroom homes. Eight of these will be semi-detached, while two will be detached units. Prices range from €247,200 to €274,200, excluding VAT, making the project especially attractive for families seeking quality housing at an affordable price.
Modern Technology and Comfort for Residents
Each house in the Danae V complex will have a living area of 136–138 m². The project includes covered parking spaces, solar panel systems, thermally insulated aluminum structures, and external thermal insulation. A key feature will be infrastructure for electric vehicle charging, reflecting Cyprus’s transition toward a more sustainable lifestyle. All homes will meet high energy-efficiency standards (Class A), reducing electricity costs.
Application Period and Process
Sales for Danae V started on October 1 and will continue until November 30. Applications can be submitted through the official KOAG website. The organization emphasizes that the project targets families who want to live in an area with well-developed infrastructure while seeing their home as a long-term investment.
Cyprus Real Estate Market and European Context
The housing situation in Europe remains challenging. According to Eurostat, from 2010 to 2022, rental prices in the EU rose by 18%, while property purchase prices increased by 47%. In Cyprus, housing prices continue to rise: in the first quarter of 2025, property values increased by 2% year-on-year, and rental rates are rising across the island. The EU average annual property price increase was 5.7%, highlighting the relevance of affordable housing programs.
Cyprus and the EU Affordable Housing Strategy
The launch of Danae V aligns with Cyprus’s broader strategy for affordable and sustainable housing, which is gaining importance ahead of the country’s EU Council presidency in 2026. Interior Minister Konstantinos Ioannou emphasized that one of Cyprus’s main tasks will be to shape a pan-European affordable housing strategy. This will require implementing sustainable practices, strengthening EU-level support, and considering the unique circumstances of each country.
Investment in the Future
KOAG notes that Danae V is designed to meet real family needs—stability, safety, and a high quality of life. For buyers, it offers not only the opportunity to acquire modern housing but also an investment in the future in a growing area with promising property value appreciation in the coming years.