Cyprus to reintroduce state-subsidized land plot scheme

The government of Cyprus is set to reintroduce a scheme for the allocation of state-owned land plots nearly 15 years after its abolition in 2012. The project will be managed by the Ministry of Interior through local authorities and the Cyprus Land Development Corporation (CLDC), marking the first time the CLDC will sell land instead of focusing solely on built housing. CLDC chairman Thiseas Ioannou confirmed that the organization is finalizing the division of 135 plots across the districts of Nicosia, Limassol, Larnaca, and Paphos. The allocation includes 36 plots in Ypsonas, 44 in Kokkinotrimithia, 31 in Timi, and 26 in Dromolaxia. Development is currently awaiting the issuance of building or planning permits by local district self-governance organizations. Each plot will measure approximately 520 square metres. These plots are expected to be sold at approximately one-third of the prevailing market price, following established criteria for affordable housing schemes.