Newsroom
Good news if you’ve been struggling to qualify for affordable housing: the government just made it easier to apply.
The Cabinet on Wednesday approved a €5,000 increase to the income limits for the Housing Scheme for Moderately Paid Individuals, run by the Cyprus Land Development Corporation (KOAG).
What does that mean in simple terms? If your income was just over the limit before and you didn’t qualify for help, you might now be eligible.
The scheme helps people buy a home or a plot of land at a more affordable price, based on how much they earn and the size of their family. It’s aimed at people who don’t qualify for welfare but still can’t afford skyrocketing housing prices.
This change is part of the government’s broader effort to tackle the housing crunch that’s hitting lower- and middle-income families the hardest, especially younger people trying to get their own place.
So if you’ve been putting off applying because you thought your income was too high, it might be worth taking another look.
