President Nikos Christodoulides told the annual general meeting of the Land and Building Developers Association on Tuesday that affordable housing will occupy “a prominent place” on the agenda of Cyprus’s upcoming Presidency of the Council of the EU.
He pledged to work for the adoption of concrete actions at European level and confirmed Cyprus will fully exploit the EU Affordable Housing Plan due to be presented by Commission President Ursula von der Leyen on 16 December.
Christodoulides underlined that the property development sector has always been central to Cyprus’s economic growth, creating jobs and boosting competitiveness. He thanked members for their decisive contribution to shaping and improving government housing measures.
Key points from the speech:
- Government has carried out major licensing reforms: low-risk developments now processed in 40 working days, medium-risk in 80 days
- Over 1,400 single/duplex house applications and more than 260 apartment-block applications (up to 20 units) already processed under the new system
- Strong interest in the Urban Incentives Scheme – expected to deliver over 1,500 new housing units, 250 of which at affordable prices
- Two new housing measures announced, including collective accommodation units for workers, a long-standing request of the Association, to ease rental pressure
- Tax reform to be voted before year-end; public procurement law overhaul in final stages
- Upgraded Business Facilitation Unit now offers faster, one-stop service for strategic investments
The President stressed that, despite geopolitical challenges, the Cypriot economy continues its upward trajectory, allowing investment in health, education and housing.
He added that upcoming bilateral agreements with one EU member state, one Gulf state and one Asian state will further boost foreign investment.
Also read: AKEL moves permanent housing interest subsidy to plenary vote
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