20.05.2023
“Cyprus is facing an unprecedented housing crisis that is primarily affecting the younger generation,” President Nikos Christodoulidis said Friday as he laid the foundation stone for the Cyprus Land Development Corporation’s ( Koag ) new ” Ianti ” social housing development in Larnaca . Christodoulides said the government called for an immediate response to this crisis.
“The high cost of building a house, as well as the difficulty of securing financing, weeded out a significant part of our compatriots from the housing market. I would like to point out that in recent years the cost of providing affordable housing has risen sharply in our country, both by buying and by renting,” he said.
He added that as a result, the risk of erosion of social cohesion is now visible, as the increase in the family budget to cover housing needs has negatively affected other equally important and necessary needs, such as education, the needs of children and many others.
The President added that the government has decided to develop a new housing policy framework, as well as to soon create the Unified Housing Agency, which will be responsible for developing the state’s housing policy to meet the needs of citizens. “From the moment of its creation, this new Unified Housing Agency will become the only reference point through which a citizen will navigate when choosing housing, based on their needs and their financial and family data, while taking into account other priorities that we have like the government, such as the need for rural revitalization, support for critical areas, cooperation with local authorities, as well as solving the problem of traffic, all these issues that we are asked to take into account in our housing policy, ”he said.
He added that the government’s intention is to fulfill the election promises to the Cypriot people through a new housing policy, which is to provide housing for all affected populations, especially young people and young couples. Commenting further, the President said that the collection and categorization of state lands is underway so that their development potential can be assessed and a specific and targeted housing policy can be developed. “We don’t lose sight of the fact that the policy so far has been focused on helping citizens get their own home in the first place,” he said. The government will also seek to energize the private sector, which, through targeted incentives, can help and help increase the existing building stock, he said.
Another goal he mentioned is to “ensure easy access for the middle and low-income social classes to finance the acquisition of a modern and decent first home through the announcement of targeted sponsorship funds and projects.”
