On Wednesday 29 May, Interior Minister Constantinos Ioannou announced that Cyprus has extended a scheme to support housing construction in mountainous and remote areas.
According to Ioannou, the changes made to the scheme will make it more attractive and accessible to the island's population.
Among the main changes, the amount of financial support from the state has been increased to €20 million and the eligibility criteria have been relaxed to allow more people to qualify for housing.
Ioannou mentioned that since the implementation of the initiative in 2019, around 1.5 thousand applications have been approved. In total, the islanders have received financial support amounting to 55 million euros. At the same time, about 14 thousand households (29.5 thousand people) will benefit in 2023 alone. The total amount of government support was €7.5 million.
Despite the very encouraging response from residents and the changes made to the plans in previous years, we have received many suggestions on how to improve the programme. We have decided to listen to the opinions of the population so that people can get the maximum benefit," the minister said.
Ioannou added that the programme has been extended until 31 December 2025. This will give those interested enough time to obtain the necessary planning and building permits, which must be submitted with the application.
The new scheme also provides for enhanced benefits, changes to the minimum income criteria for applicants and the provision of off-site housing for permanent residency in extremely mountainous and extremely barren and remote areas.
As a reminder, the scheme provides financial assistance to the applicant of up to 50 per cent of the total value of the property. Grants are paid in two instalments. The first instalment is granted as an advance payment upon obtaining a permit to construct/purchase/repair a dwelling, and the second instalment is granted upon completion of all works.
The amount of the state subsidy for the programme participants is as follows:
- for singles - 20 thousand euro
- for couples - up to 30 thousand euros
- for families with children or single parents - up to 35 thousand euros,
- for couples whose age at the time of application is not more than 41 years - up to 45 thousand euros,
- up to €50,000 for couples with children who are not older than 41 at the time of application,
- for large families with four or more children - up to 55 thousand euros.
In addition, people with disabilities will receive an extra 10,000 euros to install special structures in their homes to improve their mobility.