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Cyprus is set to get hundreds of new affordable homes, with the government announcing plans to build around 500 residential units across Nicosia, Limassol, Larnaca and Paphos. The total cost is estimated at €70 million, with state-owned land worth another €7 million provided for the project.
President Nikos Christodoulides unveiled the plan at the Presidential Palace, highlighting the focus on young families and single individuals. “Housing policy is at the forefront of our government’s priorities,” he said, noting that the current administration has already invested more than €300 million in housing over the past three years.
The new units will be developed on state plots through private-sector tenders using the Design and Build method, while ownership remains with the state. The Cyprus Land Development Organization will help manage the housing, leveraging its experience with affordable rent plans.
Where the homes will be built
- Nicosia: Latsia-Geri
- Limassol: Kapsalos, Kouri-Episkopi, Moni, Amathus-Agia Paraskevi
- Larnaca: Voroklini
- Paphos: Achelia
Christodoulides emphasized that housing is not a cost but an investment in society, offering a “holistic solution” to meet citizens’ needs.
Collective accommodation for workers
In addition, Interior Minister Konstantinos Ioannou announced a plan to construct Collective Accommodation Units aimed at supporting workers in industry, tourism, and trade, particularly seasonal staff. The project will provide practical housing solutions tailored to the needs of employees, with smaller units, fewer parking spaces, and shared areas optimized for short- and medium-term stays.
“This plan has a double goal,” Ioannou said. “It strengthens the functioning of key sectors while helping to free up existing housing units, easing pressure on rental and purchase prices.”
The minister also highlighted that the government’s housing strategy rests on two pillars: expanding the housing stock and supporting the purchasing power of citizens, with a focus on low- and middle-income families and the “New Generation.”
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