Cyprus Rent versus Instalment scheme reaches final application deadline

As of July 31, 2026, the deadline for the Cypriot government's 'Rent versus Instalment' scheme is reaching its conclusion. The program, managed by KEDIPES, is designed to provide protection for the primary residences of vulnerable households that are unable to meet their loan obligations. Between May 4 and July 27, exactly 662 new applications were submitted by residents seeking to secure their properties.

Regarding the eligibility process, approximately 38% of these recent submissions, totaling about 252 applications, have been rejected for failing to meet the required criteria. While there is public pressure to extend the deadline beyond the midnight cutoff, the final decision rests with Finance Minister Makis Keravnos. It remains unclear at this time if an extension will be granted, though government sources emphasize that the initiative serves as a critical, targeted intervention for managing non-performing loans.

The scheme was reopened this past May following extensive parliamentary discussions regarding reforms to the legal framework for property foreclosures. By offering this solution, the government aimed to provide a safety net for citizens at risk of losing their homes. Current stakeholders are now awaiting a definitive announcement from the Finance Ministry regarding the potential for further extensions.