ΚΟΑΓ Continues to Actively Develop Low-Cost Housing in Cyprus

The Cyprus Land Development Corporation (ΚΟΑΓ) continues to actively build up Cyprus with budget housing for the poor.

Now, ΚΟΑΓ has completed the construction of 20 housing units in the Geri area, of which 16 have already been allocated for use by citizens of Cyprus in need of improvement, as well as 29 houses in Anayia, of which 20 have been provided to the low income people.

In addition, the first phase of construction of the residential complex Misiaouli & Kavazoglou in Limassol, which includes 98 apartments, has been completed. Of these, 86 apartments were allocated within the framework of the budget real estate program: 72 apartments were sold, and 14 were rented to those in need. The company intends to sell another 12 units under the moderately paid housing program.

In addition, ΚΟΑΓprovided low-income residents of Cyprus with:

1. 23 apartments on Synergazias street in Kaimakli (Kaymaklı) in Nicosia
2. 18 apartments in Zakaki, Limassol
3. 18 residential buildings in the village of Psimolofou in Nicosia
4. 11 apartments in Lakatamia, Nicosia
5. 14 plots of land in the village of Pachna, Limassol
6. 18 houses in Kiti, Larnaca
7. 15 houses in Erimi, Limassol.

Also, two apartment buildings for 39 apartments were built in Kaimakli (Kaymaklı), the construction of a complex of 30 residential units was completed in Emba in Paphos, the construction of the first phase of a large-scale project was finally completed in Polemidia in Limassol, as a result of which 52 new houses appeared there, another 15 houses were built in Potami, Nicosia.

ΚΟΑΓ noted that next year the organization will receive 100 thousand euros from investor contributions under the recently closed citizenship program. At the same time, the organization's income in 2022 from the sale of housing that it is building should amount to 6.2 million euros. By the way, today ΚΟΑΓ has residential units in 71 locations throughout Cyprus.

As you may know, poor residents of Cyprus can get housing from ΚΟΑΓ at attractive prices. Houses and apartments are distributed based on the income of those in need, which should not exceed:

1. 22,000 euros per year - for one person,
2. 40,000 euros - income for a family without children,
3. 44,000 euros - income for a family with one child,
4. 48,000 euros - income for a family with two children,
5. 58,000 euros - income for a family with three children,
6. 64,000 euros - income for a family with four children,
7. 70,000 euros - income for a family with five children,
8. 76,000 euros - income for a family with six children.

Those who fit the criteria of the program can rent or buy 1, 2, 3-room apartments at much lower prices than those currently offered on the Cyprus real estate market.

If you are looking for a property in Cyprus, then contact the DOM Real Estate Portal.The website has a large selection of real estate - residential and commercial. Experienced agency specialists will be happy to help you make the right choice.