Cyprus to sell 570 state plots to young families for 25% of their value

Cyprus President Nikos Christodoulides announced two new housing programmes approved by the Council of Ministers. The first will offer young families 570 state plots at 25% of their value, while the second will allow additional housing to be built on an already developed family plot.

The plots will be made available in all districts of the country; this is only the first stage, and the subdivision of new plots will continue. According to the president, for young families this means “a clearly lower cost of acquiring land” and more opportunities to build their own home.

The second programme allows existing family property to be used to create additional housing for children or grandchildren: by adding a floor, extending an existing house or using vacant space on the plot. This will be permitted even where the allowable building density has already been fully used.

“With these two new housing programmes, we are giving our young people additional opportunities and demonstrating in practice that housing is one of the government’s key priorities,” Christodoulides said in a video address.

The president noted that since the current government took office, more than ten housing projects with a total value of over €300 million have been developed and launched. According to his data, they have brought more than 5,500 new residential units onto the market, while more than 15,000 families have used accelerated permit-issuance procedures. The authorities also announced a separate housing programme for mountain communities the previous day, aimed at doubling their population over ten years.