The Council of Ministers today approved a new Grant Scheme, proposed by the Ministry of Interior, specifically for the acquisition of a private residence in the walled city of Nicosia.
It is a Plan that comes to work cumulatively with the plans we announced two months ago concerning - let me remind you - the redevelopment of the old town of Nicosia, with the transfer of the School of Architecture, the Sponsorship Plan for the construction of Student Hostels, incentives to boost business activity, as well as upgraded incentives for listed buildings.
This plan is a housing policy plan with several relaxations, let me say, because we just want to enable, young people to own their own homes for permanent home ownership in the walled city and improve the picture of the current deforestation that it presents.
It is a project that will work synergistically.
We are allocating €5 million from the Ministry's budget. The project will be implemented from 1 March 2023 and will remain open until the last date for applications which is set at 31 December 2025 or until the available budget is exhausted. It will have a duration of almost three years and the reason is specific: we want to create the possibilities, on the one hand, to make use of the project, but with a limitation, so that we can incentivise people to come forward and apply.
The benefits of this plan will be identical to those of the housing plan for the outermost mountainous and remote areas, which is the most generous of the plans of the Ministry of the Interior, with the maximum amount of aid ranging from €35 depending on the composition of the family.000 up to €70,000, while additional assistance of €10,000 will be offered for people with disabilities.
(EFYs/NG/SX)
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