Housing subsidy scheme for young couples and/or singles up to 41 years of age

housing news
The Cyprus government grants a one-off housing subsidy intended for young couples or young people up to 41 years of age. With the housing subsidy plan for young couples or young people up to 41 years of age, the government grants a one-off subsidy, in the context of the housing policy presented by the Minister of the Interior. According to the plan, a one-time grant of €20,000 is granted to a single young person, €45,000 to a couple, and €50,000 to a couple with one or more children for the purchase of a residential unit. Beneficiary is a person who acquires a residence, which he will use for his own residence and provided that he does not own or has owned in the last five (5) years preceding the date of submission of his application another privately owned residence himself or his spouse/cohabitant. The total useful area for the acquisition of a residential unit cannot exceed 85 sq m. Income criteria: Individual Singles: Up to €25,000,
  1. Couple (family of two) or single parent family: Up to €45,000,Family of 3: Up to €50,000,
  2. Family of 4: Up to €55,000,
  3. Family of 5 people or more: Up to €65,000
  4. Financial aid is granted for the legal acquisition of a privately owned residence for permanent ownership for at least ten (10) years.
The Plan concerns the provision of financial support for living in Municipal areas and the plot under development or consideration is within the limits of a residential zone/area. A Detailed List of Plan application areas/communities will be prepared. Plan validity period: 2 years

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