On the “Alpha Kalimera” show, , explaining who is eligible to benefit, what safeguards are in place, and when the programs are expected to take effect. The plans involve the construction of an additional floor or the expansion of an existing residence, as well as the allocation of plots of land to communities at a price significantly lower than their market value.
Read more: These are the government’s two new housing plans: Who they apply to and the eligibility requirements (TABLES)
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Regarding the first program, the Minister of the Interior explained that it allows for the addition of an extra floor to an existing residence, for the purpose of housing family members, such as children, grandchildren, or even parents.
“Essentially, we are providing a free floor area ratio,” said Mr. Ioannou, explaining that the goal is “to provide housing for family members—their children, their grandchildren, or a child for his father”. The maximum floor area will be 150 square meters, while on plots of 1,000 square meters, it may, under certain conditions, reach up to 180 square meters. As he noted, 150 square meters is considered “more than enough to house a family.”
Read more: With this new housing plan, you can build an additional floor
This option will not be limited solely to vertical expansion. Where adding a floor is not feasible or desirable, the owner will be able, provided urban planning regulations permit it, to expand horizontally.
“Instead of building a floor vertically, they will be able to expand horizontally,” said the Minister, provided that the required distances from the property line are maintained. The plan, however, includes restrictions to prevent commercial exploitation, as the new residence cannot be sold or rented for ten years. “They won’t be able to sell it for the next ten years, nor will they be able to rent it out,” he emphasized, clarifying that inheritance will be permitted.
Read more: State-owned plots at 25% of market value: Who is eligible and how to apply
The second plan involves making plots available to communities at 25% of their market value, with the state covering the costs of subdividing the land and creating the necessary infrastructure.
“If a plot is worth 100,000 euros, the beneficiary will receive it for 25,000 euros,” Mr. Ioannou noted. At this stage, 570 plots have already been subdivided across 25 communities throughout Cyprus, ranging in size from approximately 320 to 380 square meters.
“We already have 570 plots ready and allocated,” he said, adding that in the future, depending on the communities’ interest, “we can allocate between 2,000 and 3,000 plots.”
Eligible recipients will be Cypriot citizens up to 45 years of age who do not own another home or plot of land and meet the specified income criteria. Priority will be given to permanent residents of the specific communities or to individuals living within a 15-kilometer radius, with families with children given priority, followed by couples and single-parent families.
“We want to help young people and young families,” the minister said. At the same time, there will be a requirement to develop the plot within three years, since, as he explained, safeguards are needed to ensure that no one acquires a cheap government plot only to resell it later at a large profit.
Mr. Ioannou also discussed the progress of the fast-track permitting process, noting that to date, 2,533 permits for single-family homes have been issued within 40 days and 1,240 permits for apartment buildings within 80 days.
“In 40 days, they are automatically processed by the system,” he said regarding residential permits, noting that this is “a huge number.” According to him, approximately 15,000 housing units are estimated to enter the market up to two years earlier as a result of the acceleration of the permitting process. Referring to the District Local Government Organizations, he acknowledged that they have improved their performance, but added that “they still have a long way to go.”
Applications for the additional-story plan are expected to begin next week, following approval by the Council of Ministers, while the list of the 570 available plots is expected to be made public around September 22.
