The President of the Cyprus Estate Agents Registration Council, Marinos Kynaigeirou, analysed the government’s latest measures on affordable housing in Cyprus during the programme “Mesimeri kai Kati” on Sigma. He said any initiative that boosts the supply of residential units and helps vulnerable groups directly benefits the housing market.
Student housing eases rental pressure
Kynaigeirou said the new student housing plan will positively impact the market, particularly as rents remain high in Limassol and Nicosia. He explained that building new student residences and affordable apartments will support young people and their families while freeing up existing properties, helping to stabilise rental prices.
Low expectations for “Renovate – Rent”
Kynaigeirou noted that the “Renovate – Rent” scheme attracted limited initial interest, which the council expected. He welcomed the Interior Ministry’s revision of the plan with extra incentives but stressed that the measure alone cannot solve the broader affordable housing challenge in Cyprus.
Rural incentives and infrastructure key
Kynaigeirou highlighted housing measures for rural, mountainous, and remote areas, noting that grants can reach up to €100,000. He said these incentives encourage young couples to buy homes and promote decentralisation and rural revitalisation. However, he stressed that financial support alone will not suffice and called for additional infrastructure to ensure residents can stay in rural areas. Coordinated action from the Interior Ministry and other ministries remains essential.
Avoid illegal estate agents
Finally, Kynaigeirou urged the public to work exclusively with licensed estate agents to guarantee legal transactions and avoid illegal operators.
Also read: Bank of Cyprus loan acquisitions under strict terms
For more videos and updates, check out our YouTube channel
