Construction works on a large number of housing units will begin in 2025, director of the Land Development Organisation Eleni Symeonidou told the House finance committee on Monday, where MPs were examining the organisation’s budget for 2025.

The budget provides for €33 million revenue and €35 million expenditure.

Symeonidou said “our big income” was from the sale of houses, apartments and building plots.

She added that work would begin this year on units and plots in Nicosia, Limassol, Paphos and Larnaca.

The organisation’s chairwoman Elena Koushou Hadjidemetriou said there was a problem, namely that those eligible to purchase the housing units could not afford the 20 per cent deposit and called on the banks to be more flexible.

Akel MP Andreas Kafkalias said that while the housing crisis in Cyprus was worsening, the government was addressing the problem with one announcement after the other, adding that the plans for 2024 had borne no substantive result.

Diko MP Christiana Erotokritou said the plans and programmes presented on Monday would help address the housing problem and make units more affordable.

Dipa MP Alekos Tryfonides said the party supported the organisation and it work and called for generous plans in mountain areas.