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Cyprus

New subsidies for homes along buffer zone and in mountains

The government on Thursday announced a new housing scheme offering monetary incentives to individuals and families to move to areas close to the buffer zone but also to mountain areas.

The scheme by the interior ministry concerns granting 50 per cent of the total expenses for the purchase, construction or renovation of a residence in designated areas. The minimum amount an applicant must spend is €20,000, while the maximum amount to be paid has been set according to the family criteria and income of each applicant.

The scheme applies for residential areas along the green line in Nicosia and Ayios Dhometios, communities next to the buffer zone such as Pano and Kato Pyrgos, Pigainia, Mosfili, Pachyammos, Deneia, Mammari, Lymbia, Potamia, Athienou, Troulloi, an area in Pyla, Strovilia, Dherynia, Ahna, Frenaros, Aheritou and Avgorou.

Mountain areas over 600 metres are also included in the scheme.

Singles with gross annual income up to €25,000 are entitled up to a €20,000-subsidy, couples that are either married or have a cohabitation agreement with income up to €45,000 are entitled up to €30,000.

For single-parent families or families with children, the subsidy can be up to €35,000. The maximum annual income for single parents must not exceed €25,000 while for families with three members to be eligible their maximum income must not be over €50,000. Families with four members must not have an overall annual income of €55,000, while the maximum income of five-member families must not exceed €65,000.

Families with four children and over can get up to €40,000 in subsidy as long as their income does not exceed €65,000 per year in income.

Persons with disabilities are entitled up to an additional €10,000 to cover expenses for special constructions.

Eligible to apply are Cypriot citizens, citizens of other EU member states that have been living in Cyprus during the last five years and repatriates that live permanently in Cyprus.

Applicants must not already own a residence or not owned one during the past five years and must not have applied before for state aid for housing purposes either themselves or their spouses/partners.

They must also not have applied to or benefitted from the Immovable Property Commission in the north.

Applicants must prove they have the amount necessary for the purchase, construction or renovation of the residence they are applying to get funding for and must use it as permanent residence at least 10 years after receiving the state funding.

The scheme (Greek only) may be found here.

Those interested may call the district offices for more information:

Nicosia: Elena Fotiou 22 804100, Limassol: Christina Theodosiou 25 806495, Larnaca: Nektaria Loizide  24 801888 and Vasiliki Athanasiou 24 801887, Paphos: Pambitsa Neophytou 26 801115 and Famagusta: Maria Anastasi 23 200906 and Andri Tsapparela 23 200907.



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