30.05.2023
Akel General Secretary Stefanos Stefanou touched on the burning issue of affordability in Limassol on Tuesday , noting that the cost of homeownership and rent in the city is much more pronounced compared to the rest of Cyprus. He noted that according to Eurostat data , property prices and rents in Limassol have been skyrocketing since 2015 and there are few signs of slowing down.
“The mismanagement of the so-called Cyprus investment program, which the previous government turned into a tool for obtaining golden passports, has been identified by the European Statistical Office as a decisive factor in this problem,” Stefanou said. “In addition, the pandemic and then the war further exacerbated the situation, with the result that access to affordable and quality housing in Limassol and Cyprus in general was limited,” he added, noting that “the lack of significant investment in socially oriented housing has been the policy of the previous government is also noted.”
Stefanou also stressed that “a large part of Cypriot society, especially the younger generation, is struggling to achieve what was once considered almost a guarantee – to have their own housing.” “Rising prices, rising interest rates, rising construction costs and stagnating wages have made homeownership an unattainable dream for many,” Stefanu said.
He went on to say that the demand for decent housing is high, but the supply is limited, and housing financing terms are not available and are not feasible for a large part of the population. Moreover, he noted that the recent increase in the number of students in Limassol has further exacerbated the problem.
Stefanou urged the government to develop a comprehensive housing policy with a strategic focus on helping the middle class, young couples and vulnerable groups to purchase housing. He stressed the need for a well-structured and inclusive policy that takes into account current issues and needs.
“ Akel has put forward concrete and actionable housing proposals, especially for Limassol , where there is a massive housing problem,” he said. “However, their implementation depends not only on politicians, but also on the beginning of cooperation between the central government and local authorities to solve these problems,” he added.
Among the party’s proposals for Limassol is coordination between all relevant stakeholders, including the government, the Limassol Municipality and the Housing Finance Corporation, to build 600 residential units in the areas of Agios Nikolaos and Agios Ioannis .
Akel also called for the use of public land outside the already allocated area in the settlement of Veregaria in Kato Polemidia , in cooperation with the government, local authorities and the Housing Finance Corporation.
“We also call for the rapid construction without delay of 500 student dormitories in the village of Veregaria in Polemidia ,” he said. “According to the timeline, the Cyprus Technological University is ready to start construction by 2024,” he added.
Stefanou urged the government to prioritize housing policies that will provide affordable housing options that can effectively meet the needs of the population.
