The Cypriot government is set to approve a \u20ac12 million affordable housing project in the Strovolos area of Nicosia, which will see the construction of 54 new apartments. The initiative, a collaboration between the Interior Ministry and the Cyprus Land Development Corporation (CLDC), aims to alleviate rental pressures in the capital by increasing the supply of reasonably priced accommodation.<\/p>\n
Interior Minister Constantinos Ioannou is expected to table the proposal for formal approval by the Council of Ministers soon. The project will feature 54 two-bedroom apartments housed in two separate residential blocks, one five-storeys and the other four-storeys tall.<\/p>\n
Construction is scheduled to begin at the end of 2025, with an expected completion timeline of three years. The funding will be distributed in phases, with \u20ac4 million allocated for 2025 and the remaining \u20ac8 million for 2026, covering both land acquisition and building costs.<\/p>\n
This Nicosia-based project is part of a wider government effort to tackle the housing affordability crisis across Cyprus. It follows a similar \u20ac16 million investment in Limassol, which is funding the construction of 138 apartments.<\/p>\n
Further plans are also progressing for another development in the Agios Ioannis area of Limassol. Once all projects are finalized, these initiatives are expected to deliver hundreds of new homes, with rental prices set at 25\u201330% below the local market average, offering significant relief to tenants.<\/p>\n
The new projects signal a renewed focus on the state’s role in the housing market and have bolstered the financial stability of the CLDC. The corporation had previously faced financial challenges following the suspension of the Cyprus Investment Programme, which had been a major revenue stream.<\/p>\n
With new state-backed financing mechanisms in place, the CLDC is now better positioned to deliver large-scale projects that directly address the country’s housing needs.<\/p>\n
Source: Cyprus Property News<\/i><\/p>","protected":false},"excerpt":{"rendered":"
The Cypriot government is set to approve a \u20ac12 million affordable housing project in the Strovolos area of Nicosia, which will see the construction of 54 new apartments. The initiative, a collaboration between the Interior Ministry and the Cyprus Land Development Corporation (CLDC), aims to alleviate rental pressures in the capital by increasing the supply […]<\/p>","protected":false},"author":9,"featured_media":118157,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[211],"tags":[],"_links":{"self":[{"href":"https:\/\/lamaisonestates.com\/ru\/wp-json\/wp\/v2\/posts\/118156"}],"collection":[{"href":"https:\/\/lamaisonestates.com\/ru\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lamaisonestates.com\/ru\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lamaisonestates.com\/ru\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/lamaisonestates.com\/ru\/wp-json\/wp\/v2\/comments?post=118156"}],"version-history":[{"count":1,"href":"https:\/\/lamaisonestates.com\/ru\/wp-json\/wp\/v2\/posts\/118156\/revisions"}],"predecessor-version":[{"id":118158,"href":"https:\/\/lamaisonestates.com\/ru\/wp-json\/wp\/v2\/posts\/118156\/revisions\/118158"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lamaisonestates.com\/ru\/wp-json\/wp\/v2\/media\/118157"}],"wp:attachment":[{"href":"https:\/\/lamaisonestates.com\/ru\/wp-json\/wp\/v2\/media?parent=118156"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lamaisonestates.com\/ru\/wp-json\/wp\/v2\/categories?post=118156"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lamaisonestates.com\/ru\/wp-json\/wp\/v2\/tags?post=118156"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}