Only two weeks after the launch of the 'Housing Subsidy for Young Couples and/or Persons Under 41' and 'Repair and Rent' schemes, the Ministry of Internal Affairs (MIA) has already received dozens of applications from potential beneficiaries.
According to the Ministry, 119 people have expressed a desire to participate in the first scheme. Of these: Nicosia received 57 applications, Limassol 26, Larnaca 19, Famagusta 10 and Paphos 7.
It should be noted that the documents under the "Housing Subsidies for Young Couples and/or Persons under 41" programme will only be accepted online on the platform www.housing.moi.gov.cy until 31 December 2024.
The main criterion for participation in the government scheme is an annual income that must not exceed
- 25,000 euros for single persons
- 45 thousand euros - for families with two adults or a single parent;
- 50 thousand euros - for families of three;
- 55 thousand euros - for families with four or more members.
The maximum financial support that applicants can expect varies between 20,000 and 50,000 euros, depending on the composition of the family. The total number of beneficiaries that can be covered by the scheme is 400.
With regard to the Repair and Rent Scheme, the Ministry of the Interior received 188 applications. At the same time, 4,234 people have volunteered to know the details of the scheme. It should be recalled that the scheme is intended to cover 800-1000 housing units. Applications for the scheme can be submitted online only on the platform www.prositistegi.cy until 31 December 2025. Both natural and legal persons may participate in the scheme.
- The main conditions for receiving cash grants are
- The property must have been vacant for at least one year prior to 1 October 2023;
- The property must be at least 15 years old;
- the property consumes less than 200 kWh per year, as evidenced by electricity bills.
The maximum subsidy under this scheme is set at €15,000 for one-bedroom flats, €25,000 for two-bedroom flats and €35,000 for three-bedroom flats. It is important to note that under the terms of this scheme, owners are prohibited from renting their homes to first-degree relatives.