Cyprus revives affordable land plots scheme after 15-year suspension

Economy cypruseconomyhousingTop News Cyprus revives affordable land plots scheme after 15-year suspension Oikopeda Koag 1024x683 Relevant News Cyprus revives affordable land plots scheme after 15-year suspension 27 June 2026 US strikes Iran in response to attack on cargo ship in Strait of Hormuz 27 June 2026 Police carry out nationwide checks and arrest eight in targeted Cyprus operations 27 June 2026 Charalambos Zakos 27 June 2026 FacebookXWhatsAppEmailPrintViber Cyprus is set to reintroduce a scheme for the allocation of state-owned land plots at affordable prices, nearly 15 years after it was abolished in 2012. The programme will operate through two channels: the Ministry of Interior, via local authorities, and the Cyprus Land Development Corporation (CLDC), which will for the first time proceed with land sales, having previously focused exclusively on ready-built housing projects. CLDC chairman Thiseas Ioannou said in a recent interview with Phileleftheros that the organisation is close to completing the final procedures for the allocation of plots. According to Ioannou, CLDC is moving ahead with the division of 135 plots located across the districts of Nicosia, Limassol, Larnaca and Paphos. Locations of the plots Further information obtained by Phileleftheros shows that what remains pending at this stage are building and planning permits, which must be issued by the district self-governance organisations. The plots are distributed as follows: 36 plots in Ypsonas, Limassol, pending building permits44 plots in Kokkinotrimithia, Nicosia, pending building permits31 plots in Timi, Paphos, pending planning permits26 plots in Dromolaxia, Larnaca, pending planning permits The plots are expected to cover an area of around 520 square metres each. They are expected to be offered at prices close to one-third of prevailing market values in the respective areas, and will be allocated under criteria already applied by CLDC in its existing affordable housing schemes. New scheme from the Interior Ministry The Ministry of Interior is also preparing its own scheme, under which state land will be divided and allocated to local authorities, which will then sell the plots to eligible applicants. The proposal is currently under legal review by the Legal Service, after the draft legislation was submitted for legislative scrutiny. Under the bill, local authorities will submit requests for areas where there is a need or potential for the utilisation of state land. The ministry will oversee the subdivision of plots, while municipalities will be responsible for their allocation. Eligibility criteria are expected to be linked to income and social conditions, similar to existing affordable housing schemes. Sale prices are expected to be set at around 25% of the value assessed by the Department of Lands and Surveys. Possible rollout in 2026 The first allocations could take place in 2026. This timeline appears more feasible for CLDC’s scheme, provided that district authorities proceed quickly with the issuance of the necessary permits. The Ministry of Interior scheme is expected to take longer, as the draft legislation is still undergoing legal scrutiny. Subscribe to our Newsletter Latest News US strikes Iran in response to attack on cargo ship in Strait of Hormuz Police carry out nationwide checks and arrest eight in targeted Cyprus operations Temperatures to reach 38C as forecasters warn of heat and isolated mountain storms Cyprus removes more than 100 tonnes of toxic pufferfish as Greece considers fisher incentives Ireland sets out agenda ahead of taking over EU presidency CARE Festival: Taking care of the future together New look for Costas Tsielepis & Co Ltd Follow en.philenews on Google News and be the first to know all the news about Cyprus and the world.