Andreas Konstantinou proposes housing loan interest rate relief for families

On October 22, 2026, Andreas Konstantinou, a DISY Member of Parliament for Nicosia, introduced the 'Every Child Counts' initiative. In a letter addressed to the Association of Cyprus Banks and shared with the Ministers of Finance and the Interior, he proposed a graduated reduction of interest rates on primary residence mortgage loans for families as they have children.

The proposal aims to alleviate the financial burden on young couples facing high housing costs and address declining birth rates. Under the plan, a mortgage with an initial 4% interest rate would decrease by 0.25 percentage points for each child born: reaching 3.75% for the first child, 3.50% for the second, and 3.25% for the third. The implementation of this scheme would be subject to specific social and economic eligibility criteria.

This initiative comes amid significant pressure on young families due to the rising costs of property acquisition. The proposal currently serves as a formal recommendation to the banking sector and government ministries to incentivize family growth through economic policy.