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12° Nicosia,
18 June, 2024
 
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Government offers 50% aid for homeownership in old Nicosia

Revitalization scheme provides financial boost for owning homes within the iconic city walls

Newsroom

The Ministry of Interior has announced the ongoing opportunity to apply for the Nicosia Within Walls City Housing Regeneration Scheme. The scheme aims to provide financial assistance for acquiring owner-occupied homes intended for permanent residence within Nicosia's historic walled city, with the ultimate goal of revitalizing the area and enhancing its social and economic aspects.

The financial aid covers 50% of the total expenditure for acquiring a dwelling, with a minimum total expenditure of €20,000. Within the framework of the plan, there are defined maximum aid limits (50% of total expenditure) ranging from €35,000 to €70,000, varying based on family composition.

The scheme will remain open until December 31, 2025, or until the allocated budget is fully utilized. Applications are to be submitted to the Nicosia District Administration, and the receipt date will be considered as the submission date for the purpose of prioritization.

For more information, interested individuals can visit the Ministry of Interior's official website at www.bit.ly/3Yyh966 or get in touch with relevant officials at the following phone numbers: 22804201, 22804120, and 22867612.

Furthermore, it's worth noting that the recent release of the second announcement for the Entrepreneurship Support Scheme within the Walled City of Nicosia can be found at www.bit.ly/3OWST9U. Additionally, the upcoming announcement for the second notice of the Grant Scheme for Student Residences is anticipated. More details regarding the plans for the Regeneration and Revitalization of Nicosia's Inner Walls can be explored at this link: www.bit.ly/3szLhTg.

[Information sourced from announcement]

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Cyprus  |  Nicosia  |  subsidy

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