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- Ελληνικά
A number of exogenous factors, such as the pandemic, geopolitical instability due to the wars in Ukraine and Gaza, global inflation, the increase in the prices of construction materials and fuel, have caused a gradual increase in real estate prices in recent years, making it difficult for citizens to access housing options.
In order to mitigate this serious issue that concerns Cypriot society and especially our young people, since taking over the government of the country, the Christodoulides Government has placed high on its priorities the finding of realistic ways to mitigate the housing problem. Investing in the strengthening of the welfare state and with a people-centred orientation, the Ministry of Interior announced last October the unified housing policy, with specific and targeted actions.
Targeting the gradual increase of the housing stock, the housing policy focuses on creating affordable housing options for citizens in need. Through a package of Plans and measures, the aim is to enhance citizens' purchasing power and access to affordable housing, with an emphasis on young families and our middle and low-income citizens.
In this context, the implementation of the individual Plans of the integrated housing policy has already started from December 2023, with the implementation of the innovative for Cyprus' standards "Built to Rent" Plan and the revised urban planning incentives.
In this context, the implementation of the individual Plans of the integrated housing policy has already started from December 2023, with the implementation of the innovative "Built to Rent" Plan and the revised urban planning incentives. These two actions provide an attractive package for construction professionals to offer more units to the market, at the same time ensuring a minimum number of affordable housing units. The involvement of the private construction industry in the implementation of the Plans additionally helps to reduce the time needed to complete a project, with the aim of adding a large housing stock to the market in the next few years.
In addition, within the next few days, the details of the "Renovate-Rent" Plan will be presented, which is the measure of the housing strategy that will provide immediate solutions by introducing into the market renovated housing units that are idle and unused by their owners.
The intervention of the Nicos Christodoulides Government aspires to create conditions that will reduce the problem practically and meet the housing needs of citizens. And in the context of the broader policy approach to continuously strengthening the welfare state, we remain committed to introducing options for greater support for our fellow human beings in need.
(MCI)
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