The first applications have begun to be submitted under the Student Housing Construction Plan. This plan aims, among other things, to increase housing options for students, as finding an apartment for student housing is becoming increasingly difficult due to particularly high rent prices.

So far, four applications have been submitted to create more than 26 units.

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“Our primary goal is to make rents more affordable; reducing rents is a matter of supply and demand. Demand is a given; what we need to increase is supply. Therefore, with this measure, we expect an increase in supply, which will inevitably lead to stabilization in the future and a reduction in prices.”
_{Konstantinos Ioannou – Minister of the Interior}

READ ALSO: Student Rents Are Skyrocketing: What Are the Prices for One- and Two-Bedroom Apartments in Nicosia and Limassol?

Student housing units may consist of a maximum of ten rooms per unit, exclusively for student housing, with reduced requirements regarding the total floor area of support and common spaces.

“If someone has a house or an 80-square-meter apartment, with the incentives provided by urban planning regulations, they can convert it into a unit with five student rooms. In short, the requirements for shared infrastructure, reception areas, and storage spaces have been reduced, and there is certainly greater flexibility in the provisions regarding parking spaces.”
_{Konstantinos Ioannou – Minister of the Interior}

According to the minister in charge, commercial and office spaces can be utilized.

“An office measuring 100, 60, or 70 square meters that they deem would be put to better use can be converted into student housing. And they can proceed with obtaining permits for the renovations they plan to carry out.”
_{Konstantinos Ioannou – Minister of the Interior}

SEE ALSO: Skyrocketing rents are “driving out” students: They’re giving up their spots due to costs

These developments must be located within one kilometer of a registered institution of higher education.

See the report by Nasia Ioannou: