Cyprus interior ministry announces housing investments and 2027 budget

Over the past three years, the Cypriot government has invested more than €300 million in housing measures aimed at supporting young people, families, and low-to-middle income citizens. Minister of Interior Constantinos Ioannou stated that €26 million from this total was distributed to 700 beneficiaries under a specific financial aid plan for individuals under the age of 41. The ministry's policy also includes new schemes for providing state plots at 25% of their estimated market value.

On November 9, 2026, Minister Ioannou presented the Ministry of Interior's 2027 budget of €780 million to the Parliamentary Committee on Finance. This budget includes over €70 million dedicated to housing initiatives, featuring a project to construct 460 units for affordable rental in Nicosia, Limassol, Larnaca, and Paphos. Additional funds of €20 million are allocated for the revitalization of rural, mountainous, and remote areas, as well as the historic center of Nicosia. Between 2023 and 2026, these revitalization efforts successfully approved 1,075 applications for residency support. The government intends to focus on completing ongoing reforms and addressing housing affordability to reduce rental prices and facilitate home ownership.