President Nicos Christodoulides presented two new government housing schemes in a recorded message, saying the goal is to give young people and families more options for acquiring a home.
Building on family land
According to the President, the first scheme allows families to make use of family-owned property to build an additional home for children or grandchildren.
In practice, a family will be able to add a new floor, extend an existing home, or make use of free space on its plot, even in cases where the permitted building coefficient has already been used up.
State plots at a quarter of their value
The second scheme concerns the use of state land for the benefit of young families. According to the President, in a first phase 570 state plots will be made available across all districts, at a sale price equivalent to just 25% of their value.
The aim, he said, is to significantly reduce the cost of acquiring land and give more young families the ability to go ahead and build their own home.
Wider housing push
Christodoulides also said that since taking office, more than ten housing schemes have been designed and launched, with total investment exceeding €300 million.
According to the President, more than 5,500 new residential units are being added to the market, while more than 15,000 families have already made use of the new fast-track licensing procedures.
"Our vision for affordable housing for all is being put into practice," the President said, citing as key pillars the increase in available housing, faster licensing, the use of state land, cooperation with the private sector, and the implementation of measures that, he said, provide real solutions for citizens.
Concluding, the President said that for the government, housing is directly linked to a family's security and stability, as well as to young people's ability to plan their future with greater confidence.
