Interior Minister Constantinos Ioannou took part in a housing conference this week, saying that the government is “committed to providing housing that is both affordable and of high quality”.  In his address, Ioannou emphasised the integral role of the real estate sector, noting, “The real estate sector in Cyprus has consistently formed the backbone of the Cypriot economy in recent years.” Ioannou outlined the government’s strategic initiatives aimed at tackling the dual challenges of affordability and sustainable development in housing.  “The rise in prices, the increase in construction costs, the effects of international crises, and new demographic trends have necessitated strategic intervention by the state,” he explained.  Detailing the recently implemented housing policies, Ioannou introduced the housing plan, a major plank in the government’s strategy to enhance housing stock and improve affordability.  “For the first time, the government has formulated a coherent and comprehensive housing policy, focusing on facilitating citizens’ access to housing and strengthening the real estate sector as a lever for development,” he said.  This strategy is designed to increase the overall housing stock, particularly in affordable segments, while boosting citizens’ purchasing power through targeted support measures. Ioannou emphasised the ‘Build to Rent’ scheme and urban planning incentives that permit developers an additional building coefficient of up to 45 per cent.  “These measures are expected to produce over 1,900 residential units and include more than 280 homes in the affordable housing market,” he said. He added that approximately €8.7 million from the purchase of building factors will support Cyprus land development corporation’s (Koag) affordable housing programmes, expected to yield an additional 250 affordable homes. The minister also pointed to the success of the ‘renovate-rent’ scheme, which offers grants ranging from €15,000 to €35,000 for renovating idle residential units for affordable rents.   “Approximately 50 applications have been submitted, and more than 400 registrations have been made on the Koag electronic platform, which will be operational for tenants in March,” he announced.   Addressing broader policy impacts, Ioannou mentioned a mooted land allocation scheme for low and middle-income families, currently under legislative review.  He also reaffirmed the government’s commitment to finding additional funding to expand these programmes by the end of November, reflecting strong public interest. In terms of regulatory reforms, the minister underlined efforts to simplify the urban planning and building permit process.  “We have promoted 22 measures to streamline licensing, implementing a rapid and automated process for examining and issuing permits within 20 working days for single-family and duplex houses, and within 40 working days for larger developments,” Ioannou explained. “We are investing in our synergy with the private sector,” he stated, commending the sector’s ongoing support in providing substantial and permanent solutions to the housing needs of society. “The housing policy we are implementing offers prospects for creating conditions of stability in the market and development opportunities for all stakeholders”, Ioannou concluded.   (ICE BEIRUT)

Fonte notizia: Cyprus Mail