The Minister of the Interior announced two new housing plans.
The first, which will be implemented throughout Cyprus, will grant the right to build a new home for the purpose of housing family members.
ΣΧΕΤΙΚΑ ΑΡΘΡΑ
Owners of existing homes, under specific conditions and regardless of whether the building coefficient has been exhausted, will be able to build an additional floor to house their children or grandchildren.
SEE ALSO: These are the government’s two new housing plans: Who they apply to and the requirements (TABLES)
An additional dwelling may be created either within the existing building or through an extension, the addition of a floor, or the utilization of the vacant space on the lot. The new unit may have a buildable area of up to 150 square meters, or up to 180 square meters on larger lots. Provisions are also made for parking facilities, as well as a 10-year restriction on the transfer of the new unit, with the exception of inheritance.
“We believe this measure will provide immediate solutions, because it reduces construction costs, lowers acquisition costs, and eliminates the cost of acquiring land.”
Konstantinos Ioannou – Minister of the Interior
Plan for Allocating Plots of Land to Families
The second plan involves utilizing available state-owned land in communities, which will be allocated to families.
The plots will be sold at 25% of their market value, and eligible recipients will be Cypriot citizens under the age of 45. The plan will cover families with children, childless couples, and single-parent families, based on specific income, family, and other criteria.
“We have 570 ready-to-allocate plots that will be posted the Monday after next, and those who are eligible will be able to apply; if there is oversubscription among eligible applicants, then there will be a prioritybased on the criteria, and if there are still more applicants than available plots, they will be allocated by lottery.”
Konstantinos Ioannou – Minister of the Interior
READ ALSO: With this new housing plan, you can build an additional floor
Expressions of interest will be submitted through the presidents of the community councils, who will forward the preliminary requests to the relevant District Administrations, so that the process of evaluating and subdividing the proposed plots can begin.
“In some of these communities, they have already begun reviewing the requests for subdivision.”
Konstantinos Ioannou – Minister of the Interior
Existing Housing Programs
The Minister of the Interior also reviewed the existing housing programs, which have benefited thousands of eligible recipients, and presented the results of the fast-track permitting reform.
By the end of August, 2,533 single-family and duplex homes were permitted within 40 business days, and 1,242 apartment buildings and residential developments were permitted within 80 days.
READ ALSO: State-owned lots at 25% of market value: Who is eligible and how to apply
These developments involve more than 15,000 families who will be able to move into their homes about a year and a half earlier than planned.
Watch the report by Nasia Ioannou:
