The Cypriot government is preparing to make around 570 state-owned plots available to eligible families under a new housing scheme aimed at helping more people build their own homes.
The plots will be offered at one-quarter of their market value, according to the Interior Ministry. Applicants must be Cypriot citizens under 45. Families with children, couples without children and single-parent families may qualify, provided they meet income, family and other criteria.
The detailed eligibility rules are expected to be released on September 18, followed by a list of the participating communities three days later. Interest is already growing, with another 20 communities understood to have asked to join the scheme.
On the surface, the offer is difficult to ignore. If a plot has a market value of €100,000, the discounted land component would be €25,000.
However, under the Interior Ministry’s official framework, the amount paid by the beneficiary will also include the cost of dividing and preparing the land. That can include roads and the work required to bring water and electricity to the development.
