Cyprus has started accepting applications for a support housing program in the mountainous and remote areas of the island.
The new program provides for the financial support (up to 50% of the real estate price).
The rural revitalization program is new and covers 258 Cypriot villages. It should be noted that the main goal of the new plan is to reduce the population outflow from villages.
The applicant can build a new home, buy a new or second home, and as well as reconstruct real estate whey inherited. The financial support will be paid in two parts. The first part is to be provided in advance, upon obtaining the building / purchase permit and the second part should be given after the completion of the home purchase/reconstruction.
The amounts of financial support is:
- for singles: up to EUR 20 000
- for couples: up to EUR 30 000
- for families with children / a parent with children: up to EUR 35 000
- for young couples (40- y.o.): up to EUR 45 000
- for young couples (40- y.o.) with children: up to EUR 50 000
- for families with four or more children: up to EUR 55 000.
People with disabilities can get an additional 10 thousand euros for the disabled facilities installation.
In addition, the Ministry of the Interior will provide additional financial assistance: an annual grant for families who live far from cities. The amount depends on the distance (EUR 400 if a family lives 40 to 59 km away from the city, EUR 500 for 60-79 km and EUR 600 for more than 80 km). This grant should cover transportation costs.
Attention! Acceptance of applications for participation in the state program will end on December 31, 2021.
Applications must be submitted to the district administrations. Please note that applications will be reviewed based on their filing date (the earlier, the better). Those who receive a positive answer will be able to get financial support.
For more information on the housing support program, visit the website of the Ministry of Internal Affairs.
