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07.11.2026
ECONOMY
12:28

Ministry of the Interior: Housing measures totaling over €300 million over the past three years

"the goal of the policies the government is implementing is to improve the daily lives of citizens."
ALPHANEWSLIVE


Over the past three years, more than €300 million has been invested in housing measures and programs targeting young people, families, and low- and middle-income beneficiaries, according to Interior Minister Konstantinos Ioannou, who referred to the government’s efforts to boost disposable income and expand housing options.

In a video posted Saturday on the Office of the President of the Republic’s account on Platform X, the Minister of the Interior noted that, as part of the Financial Assistance Program for young people and young families under the age of 41, €26 million was allocated, with 700 beneficiaries.

As he pointed out, “Our primary goal through the policies implemented by the government is to improve citizens’ daily lives by boosting their disposable income and creating more opportunities for financial security and a better future.”

Regarding the new plan to allocate state-owned plots of land to families, Mr. Ioannou noted that eligible recipients can acquire land at 25% of its appraised value, with a particular focus on low- and middle-income families.

Furthermore, he noted that the Plan granting the right to build an additional residence in an existing residential development provides the opportunity to utilize family property to house family members, thereby reducing construction costs and the need to purchase a new lot.

Referring to tax reform, he said that tax deductions are provided for rent or mortgage interest on a primary residence, as well as additional relief for families with children.

“These measures are part of a comprehensive effort to expand housing options, support the younger generation, and strengthen family budgets,” the Minister said, adding that the goal is to harness the economy’s potential and return the benefits of growth to society.

Source: CNA

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