The Cyprus Ministry of Interior has announced that the new online platform for the ‘ Renovate & Rent ‘ programme will be available on Wednesday, April 9 at 12:00.
The platform, accessible at www.prositistegi.cy, will allow potential tenants to apply for affordable housing properties under the programme.
The programme provides grants of between €15,000 and €35,000 to property owners to renovate empty residential properties and then rent them out at affordable prices.
To qualify for the program, applicants must meet certain income and family composition criteria and not own other private residential property at the time of application, either personally or through a spouse or partner.
The annual income thresholds are set as follows:
- Up to 25,000 euros per person.
- Up to €45,000 for a couple or single parent with one child.
- Up to 50,000 euros for a family or single parent with three children.
- Up to 55,000 euros for a family of four.
- Up to €65,000 for families or single parents with five or more children.
Applications submitted through the platform will be reviewed by the Cyprus Land Development Authority ( Koag ). Once approved, applicants will be given access to a list of available renovated properties, allowing them to enter into a lease agreement with the owner of the property.
