The Cyprus Land Development Corporation (Koag) has announced the launch of applications for its affordable housing scheme, covering the districts of Nicosia, Limassol, and Larnaca.
The application period began on October 1, 2025, and will remain open until November 30, 2025.
According to the announcement, the scheme gives eligible applicants the opportunity to register in the affordable housing beneficiary register, allowing them to later claim the purchase of a residential unit developed under the Special Housing Incentive scheme for land developers.
The purchase price of each affordable housing unit has been set at €1,650 per buildable square metre, as determined by Koag, the affordable housing management body.
Eligible applicants include Cypriot citizens and EU nationals who have been permanent residents of Cyprus for at least five years prior to applying.
In addition, applicants and their spouses or partners must not have owned another suitable residence within the past five years.
Income thresholds also apply. The maximum gross annual income allowed varies depending on family composition, €25,000 for single applicants, €45,000 for couples or single-parent families, €50,000 for families of three, €55,000 for families of four, and €65,000 for families of five or more.
Moreover, applicants must demonstrate sufficient financial resources, including the ability to pay a 20 per cent down payment and secure a bank loan for the remaining 80 per cent of the property’s value.
Successful beneficiaries who purchase a residential unit through the scheme must retain ownership and use the property as their primary residence for at least ten years.
They are also prohibited from reselling the property during that period and cannot reapply for any future version of the same scheme.
Further details and application forms are available here or by contacting Koag at 22364695.
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