04.11.2023
The new unified housing policy announced by the Ministry of the Interior is a positive development as it will breathe life into the market and make a significant contribution to finding solutions for vulnerable groups, emphasizes the CEO of Ayia Napa Marina & Caramondani Group Stavros Karamontanis.
Mr. Karamontanis notes that although measures are being taken, this does not mean that they will solve the problem radically and permanently, since the need for additional real estate will increase in the future. At the same time, he raises another question – about reducing VAT on building materials and raw materials, which, as he notes, if applied, will bring results in the final price of the product. “An equally important issue is the reduction of VAT on construction materials and raw materials. By controlling the price at the initial stage, optimization of the market price of the final product is achieved,” he said. At the same time, Mr. Karamontanis emphasizes the need to further support measures systematically, that is, to integrate new technologies and electronic services to modernize procedures.
What do you think about the new unified housing policy?
The announcement of the new unified housing policy is undoubtedly a very positive development. The issue that has worried and continues to worry a significant part of our fellow citizens seems to be at the first stage, both in the short and long term.
By focusing mainly on vulnerable groups, they are given the space and opportunity to “breathe” and find a solution through the provisions of the new housing policy to the perpetual housing problem. This positive development is widely welcomed by all project participants, especially the beneficiaries. However, based on past and present data, as well as future projections, the need for new housing will be even greater in the next five years.
Do you think that the new housing policy will alleviate the housing problem and expand citizens’ access to housing?
This will significantly contribute to finding solutions for vulnerable groups. That is, those who really need and will benefit from these measures. However, this does not mean that this will solve the problem radically and forever.
The need for additional real estate is sure to increase in the future. Therefore, early identification of real needs with numerical precision is necessary so that the problem of declining housing supply can be addressed again after five years. In other words, the deadline for implementing the measures of the recently announced unified housing policy.
From time to time I have highlighted important issues that require immediate attention. For example, reduction of VAT in prices for raw materials and construction materials, effective control mechanisms, fast and flexible procedures for all participants.
To what extent do these measures satisfy developers and land management specialists? Do you think they need some improvements?
I think for all parties involved, rest would be futile and fatal. Addressing this particular issue requires constant vigilance and effective forecasting of needs, both from a supply and demand perspective.
In this direction, I consider it necessary to emphasize the need for further systemic support for measures. That is, the integration of new technologies and electronic services to modernize systems and processes. For example, licensing procedures and timing of new developments should be considered a pain in the ass, at least until now.
As I said above, an equally important issue is the reduction of VAT on construction materials and raw materials. By controlling the price at the initial stage, optimization of the market price of the final product is achieved.
In conclusion, I would like to say that a further increase in the construction factor, I believe, will benefit all parties involved.
