Cyprus has launched the second phase of a programme called "Housing Subsidies for Young Couples and/or Persons Under 41".
The government scheme has undergone a number of changes to make it more attractive to potential beneficiaries. This was announced by the Cypriot Interior Minister Constantinos Ioannou on Wednesday 15th January.
The main changes include:
- An increase in the maximum size of the property for which state support is granted, from 100m2 to 150m2;
- Reducing the period of use of a home as a permanent residence from 10 to 5 years;
- Increasing the maximum threshold of total family income to 5,000 euros for all categories of beneficiaries;
In addition, young couples and families can now apply, even if one of the applicants is over 41 years old. Anyone who meets the criteria for the government scheme can apply. An online form must be completed. Applications from Cypriot residents will be accepted until 30 November 2025.
It is worth noting that the 'Housing Subsidies for Young Couples and/or Persons under 41' programme is very popular among the local population.
During the implementation of the first phase, 275 people expressed their wish to receive cash grants from the State. Of these, 233 received a positive response. It should be recalled that the maximum amount of financial support that applicants can expect varies from 20,000 to 50,000 euros, depending on the composition of the family, namely
- Single people - up to 20,000 euros
- Couples or families with a single parent - up to 45,000 euros
- Families with one or more children - up to 50,000 euros
The total budget of the programme is estimated at 15 million euros.