President Nikos Christodoulides has announced the government's decision to construct approximately 500 housing units in Nicosia, Limassol, Larnaca and Paphos, at a total cost of €70 million.
The housing units will be constructed on state land, worth approximately €7 million, on plots designated by the Department of Town Planning and Housing, as follows:
- Nicosia: Municipality of Latsia-Geri
- Limassol: Kapsalos Area, Municipality of Kourion-Episkopi, Community of Moni, Municipality of Amathus-Agia Paraskevi
- Larnaca: Voroklini
- Paphos: Achelia
The new housing units will be allocated for affordable rental properties, for families or even single individuals, based on specific criteria, with an emphasis on the Young Generation, as explained by Christodoulides at an event held at the Presidential Palace on the presentation of the housing plans implemented by the government, through the Ministry of Interior, over the last three years.
Based on the design for the construction of 500 housing units, the state-owned plots will be made available through a competitive bidding process to the private sector for construction using the Design and Build method, with their ownership remaining with the state. The know-how and experience of the Cyprus Land Development Corporation will be utilised for the disposal and management of the housing units, alongside its own Affordable Rental Schemes.
€300 million investment in housing
President Christodoulides stated that the decision to construct approximately 500 housing units comes in addition to the interventions already being implemented by the government to alleviate the housing problem.
He said that housing policy is at the forefront of government priorities, not in words but with seven specific housing projects so far, from which hundreds of our fellow citizens are benefitting.
"For our government, spending on housing is not approached as a cost, but as an investment," he noted and said that overall, "the current government's investment in housing policy so far exceeds €300 million, a number perhaps unique for Cypriot conditions."
"It is important to mention that all the housing projects we have announced are feasible, are financially viable and, most importantly, offer hundreds of families and our fellow citizens, mainly - I repeat - the New Generation, the opportunity to find a holistic solution to meet their housing needs," the President said, and added, "All of this is possible as a result of our responsible economic policy, which allows the state to have the necessary fiscal sufficiency to implement housing policy, in a targeted and effective manner."
Construction of collective accommodation units
At the same event, the Minister of the Interior, Constantinos Ioannou, announced the new housing scheme for the Construction of Collective Accommodation Units, which falls within the government's broader strategy to support the sectors of industry, tourism and trade.
The plan provides the possibility of creating housing solutions for personnel employed in these sectors. It was developed after consultation and with the assistance of the interested professional sectors and is expected to have multiple social and economic benefits, since it aims to meet the need for short- and medium-term accommodation of these workers, especially seasonal workers.
As the Minister explained, the scheme allows for the construction of specialised types of residential units, adapted to the needs and data of this group of workers, while ensuring their dignified living. Among other things, the main parametres of the scheme concern the reduced area for all types of units, reduced parking spaces and reduced common areas.
"This specific scheme has a dual objective. In addition to strengthening the smooth operation of the productive sectors, the Scheme for the Construction of Collective Accommodation Units will contribute to the reintegration of units that are currently occupied by workers, gradually ensuring the balance between supply and demand and thus leading to a decompression of purchase and rental prices," Ioannou added.
The Minister of Interior referred to the performance so far of the government's housing policy measures, which are based on two pillars: increasing the housing stock and strengthening the purchasing power of citizens.
"Our main priority is the production of new housing units, especially affordable housing, as well as the support of our low- and middle-income citizens, with an emphasis on young families," Ioannou said.
(Source: InBusinessNews)
