13.08.2022
The grant scheme for the purchase of a private residence in the walled city of Nicosia remains open until the end of 2022.
The grant is part of an action plan to revitalize and revitalize Nicosia within the walls with the aim of improving the quality of life of citizens living in the area, attracting new residents and increasing interest in staying in the area.
The plan concerns the provision of financial support for the acquisition of a private residence in permanent possession in the municipality of Nicosia, where this plan applies.
Terms and sponsorship
It is noted that the project will be financed by 5 million euros from the state budget and is expected to operate from 2023 to 2025.
It also clarifies that the contribution amount and eligibility criteria will be the same as in the existing housing plan .
The assistance is 50% of the total cost of purchasing a home, with a minimum total cost of 20,000 euros.
More about amounts
The maximum assistance limit (50% of total expenses) depends on the composition of the family, as well as on the area in which the housing is purchased with the following maximum amounts:
One person: up to 35,000 euros.
Couple: up to 45,000 euros.
Young couple, neither member of which is over 41 years of age on the date of application: up to 60,000 euros.
Family with children (including a family with one parent): up to 50,000 euros.
A young family with children (including a young single-parent family) in which none of the family members has reached the age of 41 on the date of application: up to 65,000 euros.
Large children ( four or more children ): up to 70,000 euros.
People with disabilities, additional amount: up to 10,000 euros for construction.
For special constructions, for security purposes and for proper support of the residence due to the morphology or slope of the ground, an additional amount: up to 25,000 euros (depending on the area).
The Municipality of Nicosia clarifies that interested parties must meet certain criteria and conditions in order to become beneficiaries, which are detailed in the project manual.
