In a video message, President Nikos Christodoulides announced the two new housing plans approved by the Cabinet on Thursday: One provides for the transfer of 570 state-owned plots at a price reduced by 75% of their value, and the second provides incentives for families to develop an existing home or plot of land, particularly to meet the housing needs of members of the same family, regardless of whether the building density ratio has been exceeded.
The President specifically stated in his video message:
ΣΧΕΤΙΚΑ ΑΡΘΡΑ
“With two new Housing Plans, we are offering additional opportunities for our young people and demonstrating in practice that housing is one of our government’s top priorities.
The first program allows families to use their family property to build an additional home for their children or grandchildren.
Simply put, a family can use its existing home to build an additional residence.
That is, they can build a new floor, expand the existing home, or utilize vacant space on their lot.
And this option is available even in cases where the permitted building coverage ratio has already been exhausted.
Our second plan calls for the development of state-owned land for the benefit of young families.
Specifically, we are offering state-owned plots for sale at just 25% of their value.
As a first step, 570 plots are being made available across all provinces, with new subdivisions to follow.
For a young family, this clearly means lower costs for acquiring land and, of course, more opportunities to move forward with building their own home.
Friends,
From the very moment we took over the governance of the country, we have planned, announced, and implemented more than 10 housing programs.
Our total investment exceeds 300 million euros, and
more than 5,500 new housing units are being added to the market.
At the same time, the new fast-track permitting procedures we have adopted are being utilized by more than 15,000 families.
Our vision of affordable housing for all is becoming a reality.
Our goal and objective: more housing, faster permitting processes, utilization of state-owned land, collaboration with the private sector, and initiatives that offer real solutions to citizens.
We are changing Cyprus by offering substantive solutions and demonstrating in practice that, for our government, a home means security, stability, and the opportunity for a young person or a family to plan for the future with security, stability, and prospects.”
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