The current government has invested more than €300 million in housing schemes, while more than 5,500 new housing units are being added to the market, President of the Republic Nikos Christodoulides said on Sunday.
In a recorded message on the government’s housing policy, the President referred to two newly announced schemes, noting that they provide additional opportunities for young people and “demonstrate in practice that housing is one of our government’s most important priorities.”
He explained that the first scheme allows families to make use of family property to create additional housing for their children or grandchildren.
“In simple terms, a family can make use of the home it already owns to construct an additional residence,” he said, adding that families can choose to build an additional floor, extend an existing home or make use of available space on their plot.
“This option is available even in cases where the permitted building coefficient has already been exhausted,” he noted.
Referring to the second scheme, Christodoulides said it provides for the use of state-owned land for the benefit of young families.
“Specifically, we are making state-owned plots available at a sale price of just 25% of their value,” he said, adding that, as a first step, 570 plots will be made available across all districts, with further land divisions to follow.
“For a young family, this clearly means a lower cost for acquiring land and, consequently, more opportunities to proceed with building their own home,” President Christodoulides said.
He added that since the beginning of the current administration, more than 10 housing schemes have been designed, launched and implemented, with total investment exceeding €300 million and more than 5,500 new housing units being added to the market.
At the same time, more than 15,000 families are making use of the new fast-track licensing procedures introduced by the government.
“Our vision of affordable housing for all is being put into practice,” he said, adding that the objective is to provide “more homes, faster licensing procedures, the utilisation of state land, cooperation with the private sector and interventions that offer real solutions to citizens.”
Concluding, the President said the government aims to provide meaningful solutions to the housing issue, so that home ownership can provide security and stability while giving young people and families the opportunity to plan their future with greater confidence.
Source: CNA
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