The response to the affordable roof plans to date is encouraging, according to Interior Minister Konstantinos Ioannou while KOAG is planning for the next years the construction and disposal of the affordable housing units for sale and rental units for sale and rent.
For the housing sponsorship plan for young couples and/or young people up to 41 years old (1st invitation 2024 and 2nd invitation 2025), 525 applications were approved, of which 152 applications were approved for financial support of around € 5.4 million, with 200 applications pending, 172 were rejected.
For the Plan renovate -Democratic (1st Invitation – 2024 and 2025) 43 applications were submitted, of which 28 applications for financial support of around € 727,000 were positively evaluated, six applications are pending and rejected nine applications.
Aim to reduce home acquisition costs
Answering a question from the Limassol MP Marina Nikolaou constituency about the comparative results for the supply and demand of the housing units that were produced through the plans of the Single Housing Policy, the minister says that the goal is in the medium term to balance the bidding and the bidding of it.
To this end, he adds, special importance is given through housing policy to the plans aimed at increasing the supply of residential units available on the market, with the aim of meeting increased demand and gradual price decompression, such as plans related to urban planning and renovation planning and renovation plannings and builds to the renovation and builds. Kag.
The plans aim to create an additional offer from what the private sector would produce in the absence of motivation.
Will cover part of demand
According to the minister, because these plans take time to give obvious results and have an impact on the market, it is not possible to draw safe conclusions about their potential performance at the time, but it is expected that in the next few years they will cover part of the increased demand observed.
On the basis of applications to date, a fine of about € 5 million is expected for an affordable housing purposes of applications corresponding to 7 land development businessmen.
KOG TRAINS WITH DEVELOPERS
The number of agreements signed between the KOG and land development businessmen for the utilization of incentives is 16 and the number of affordable houses under the 84 signed agreements to date, of which 65 for sale at affordable prices through the exploitation of urban planning incentives and 19 for affordable rental.
Based on the KAG Development Program in 2023, it completed and saved 16 units of affordable roof. In 2024, it began the construction of 24 units of affordable roof, which will be completed and delivered in 2025.
At the same time, KAOG in 2025 began to begin the construction of 135 accessible roofs for sale 36 units of accessible housing for rent. In 2026, it plans that it will begin to build 96 units of affordable roof for sale 156 units of affordable housing for rent.
In 2027 it is scheduled to continue the implementation of the above projects for their disposal, as well as the KOG will reassess its planning to produce additional units depending on resources and demand availability.