Cyprus' Council of Ministers Approves Enhanced Housing Plans for Mountainous and Remote Areas

The Cyprus Council of Ministers has approved revised housing plans and grants to support residents of mountainous, remote, and disadvantaged areas. These plans, effective from June 3, 2024, aim to provide financial assistance for housing acquisition and revitalization in these regions.

Key changes include increased funding, expanded eligibility, and a simplified application process. Approximately €55.4 million has been granted to 1,500 approved applications since the plans' initial implementation in 2019. The revised plans are expected to benefit an additional 14,000 eligible households, corresponding to around 29,500 people.

The application process has been streamlined to facilitate participation. Beneficiaries will receive a letter of pre-approval to secure loans for the remaining amount, and payments will be made in three installments, including an advance payment. This simplification aims to make the process more accessible and efficient for applicants.

The revised plans also include an increased allowance for pensioners, raising it from €85 to €165, equal to that received by non-pensioners. This change is expected to add approximately €900,000 per year to the Republic's costs. Foreign students are now eligible to participate in the housing schemes and allowances, further expanding the scope of beneficiaries.

Why this matters: This revised housing plan has broader significance as it addresses the needs of disadvantaged communities, promoting social equality and regional development. The increased funding and simplified application process may lead to improved living conditions, increased economic activity, and a more balanced population distribution in Cyprus.

Interior Minister Konstantinos Ioannou highlighted the significance of these revisions, stating, "The revised Housing Plans that we are presenting today are a significant upgrade of the policy to date and are part of our integrated housing policy, in line with our decision to strengthen the National Strategic Development of Mountain Communities." He emphasized the government's goal to create strong and resilient communities for the benefit of local residents.

The plans have been extended until December 31, 2025, providing a two-year window for interested parties to secure necessary planning and building permits. This extension allows for sufficient time to complete ongoing construction projects and for new applicants to benefit from the scheme.

Applicants who acquired a dwelling by inheritance in eligible areas before January 1, 2024, can now participate in the plan, regardless of when the inheritance was acquired. This change aims to make the scheme more inclusive and accessible to a broader range of residents.

The revised housing plans and grants reflect the government's commitment to supporting and revitalizing mountainous, remote, and disadvantaged areas in Cyprus. By increasing funding, expanding eligibility, and simplifying application processes, these plans aim to bolster community resilience and attract new residents to these regions.

Key Takeaways

• Cyprus Council of Ministers approves revised housing plans for remote and disadvantaged areas.
• €55.4 million granted to 1,500 applicants since 2019; 14,000 more households to benefit.
• Simplified application process with pre-approval letters and 3 installments.
• Pensioners' allowance increased from €85 to €165; foreign students now eligible.
• Plans extended until December 31, 2025, to support community development.