Applications have begun to be submitted to the local district administrations for a total of 523 state-owned plots of land that will be made available to families at 25% of their market value.
In the first phase, 73 plots are being allocated in the Nicosia district, 112 in Limassol, 123 in Larnaca, 184 in the Paphos district, and another 31 plots in the free district of Famagusta.
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“Eligible recipients are residents of the community; they have priority, followed by those who are repatriated, and refugees residing in these communities have priority; the next category consists of residents living within a 15-kilometer radius of the community where plots are already available.”
Konstantinos Ioannou – Minister of the Interior
For example, in the Nicosia District and based on the 2021 appraisals, as recorded in the land registry, the average value—for example, of the 10 plots to be allocated in Agia Varvara—is approximately €52,100. Beneficiaries will purchase these plots for 13,000 euros. In Deneia, the value of the plots ranges around €36,500, and their price will range around €9,100; in Lybia, the price will range from €52,100 to €13,000. Similarly, in the Limassol district, in Episkopi, their value will be around 23,500 euros. In Kalo Chorio, properties priced at €36,500 will be sold for €9,100, and in Kanto, prices will range from €26,100 to 6,500 euros.
“The prices are indeed low because they’re at 25% of market value, which doesn’t include the cost of subdivision anyway. So if a plot is worth 50,000, it will be available for 12,500.”
Konstantinos Ioannou – Minister of the Interior
We also looked up prices for the other districts.
For example, in the Larnaca district, specifically in Kivisili, the price of a plot ranges around €13,000. Under the program, they will be offered at a price of 3,300 euros. In Korno, where the current market value is 62,500, the plots will be offered at 15,600 euros; and finally, in Xylotymbou, where the current market value is 59,900, they will be offered at €15,000.
In Kouklia, Paphos (€62,500), the price of each of the 25 plots will be €15,600, while the 54 plots in Pentalia, whose value ranges around 18,200 euros, will be sold for 4,600 euros.
“As for our fellow countrymen who are refugees and receive housing assistance from the welfare system, they may combine this housing assistance with the allocation of plots of land, and in remote mountainous areas where certain communities exist, this can be combined with the energy efficiency upgrades offered by the Ministry of Commerce.”
Konstantinos Ioannou – Minister of the Interior
In the Free Province of Famagusta, specifically in Frenaros, where 29 plots of land will be allocated, their value is estimated at €59,900, and their final value will be around €15,000.
“Some communities have also expressed interest following the announcement of the plan. They will submit applications to the relevant district governors to begin the subdivision process; some have already done so and are at an advanced stage.”
Konstantinos Ioannou – Minister of the Interior
The plots will range in size from approximately 325 to 371 square meters. The residence, which must be built within three years, cannot exceed 150 square meters of total buildable area.
Watch Nasia Ioannou’s report:
