The Plenary of the House has approved the budget of the Housing Funding Organization (OSS) for the year 2025
It was approved by the House of Representatives in the budget of the Housing Funding Organization (OSS) for the year 2025, which provides for total costs of € 22,044,682 and a total revenue of € 26,648,835, recording a surplus. Expenditure is up 10.5% compared to 2024, with revenue increased 28.4%. 32 MPs voted in favor, while Ecologists MP Stavros Papadouris abstained.
DIKO MP Christian Erotokritos welcomed the surplus budget of the OSS. He recalled that the organization was founded under DIKO’s governance and has so far supported more than 40,000 low -income families to acquire a privately owned home.
Ms Erotokritou also referred to recent efforts to modernize the OSS, stressing that the necessary tools have been given to become competitive and operate with more modern practices. Although, he said, there were delays in the implementation of the new software, he estimated that in 2025 this would be fully operational, boosting the organization’s work, particularly in terms of mortgage loans for young couples.
At the same time, he recalled that the OSS was recently voted on to have non -performing loans in packages – excluding those of the first home – to enhance its liquidity and to provide additional support.
He added that some in the past wanted to close the OSS, adding that in the last three years the organization has acquired “new air”, although, as he noted, “there can be no miracles in three years.”
For his part, ELAM MP Sotiris Ioannou was in favor of the support of the OSS, stressing that the organization was not established for profit but to provide favorable lending to households. He added that especially at this time, where the housing issue is suffering from thousands of our fellow citizens, the OSS can and should have a role. He called on the parties to prove their support for the organization.
Ecologists MP Stavros Papadouris expressed his disappointment over the course of the Organization, noting that the debate this year is no different from last year. “I am sorry to notice that within a year we did not see any special changes,” he said, adding that the non -performing loan (CCPs) portfolio remained almost unchanged, while loan refinancing capabilities were limited at a time when the ECB had increased. In fact, he pointed out that the organization’s slow processes resulted in significant opportunities being missed. He expressed hope that the organization would find ways to evolve and achieve the expected result. Finally, he announced his abstinence from the budget.
AKEL Secretary General Stefanos Stefanou criticized the transformation of the OSS, recalling that the organization was originally created, together with the Earth Development Organization, to facilitate the acquisition of housing by small and medium -sized families. As he said, in 2017 he was transformed into a bank with an Anastasiadis government bill, stressing that today he is unable to perform his role. He argued that the government should re -evaluate critical issues related to housing policy, most notably the issue of funding. At the same time, he highlighted the need to create a central coordinating body that will undertake the design and implementation of an integrated state housing policy.
DIPA MP Alekos Tryfonidis described the role of the organization extremely important, especially at a time when housing costs are one of the most serious social problems. He stressed that his lineup supports the organization in order to continue lending to the low and middle classes. However, he pointed out that in recent years the OSS has faced serious problems, such as under -staffing, a high rate of non -performing loans (NPDs), a lack of chairman and general manager, technological retardation and delays in the service of citizens. He accused the previous government of inadequate management and said that the DIPA was taking the initiative to sell a problem of problem loans of 57m euros to boost the body’s viability. He also argued the creation of a single housing policy, which would include the OSS, the Earth Development Organization and the KEDIPES. As he said, the OCS must be left to grow, because some may not want it and they are hindered in its efforts.
Nicosia MP Alexandra Attalidou has made the housing crisis as a social issue, stressing the absence of a comprehensive strategy from the government. She expressed her indignation at the OSS’s weaknesses, describing as “tragic” the fact that citizens call the organization and take six months to receive an answer. He emphasized that the organization was created to help citizens, but the lack of staffing and its inability to serve borrowers put its viability at risk. He also said that they do not see politics on the part of the government to correct the situation.
DIPA MP Marinos Mousiutas noted the need to support the Government from the government to continue to be the “stab” of citizens in difficult economic conditions.
DISY MP Onoufrios Kallas rejected the claim that the OS was converted into a bank in 2017, noting that the Agency was always functioning as a credit institution. He stressed that borrowing cannot be done without evaluation, as “loan and unhappy should not be encouraged”. He referred to the Single Banking Union, which since October 2014 has raised common banking standards throughout the eurozone, compulsory to comply with all institutions that receive deposits with the same regulations.
“Easy lending no longer exists,” he said, adding that the 2017 changes expanded the capabilities of the OSS, allowing it to provide more loans and credit cards. Regarding the proposal for a single housing policy, he said it was not a solution for the housing problem. He argued that the government has taken some correct measures, but it needs to move faster because the problem is evolving at a much higher speed.
AKEL parliamentary spokesman George Loukidis described the housing as the most acute problem facing Cypriot society, noting that for many young people, housing is a dream. He stressed that in Cyprus the problem of difficulty accessing the roof is more than twice as much as the rest of Europe and instead of diminishing, it is intensifying. He said that a comprehensive policy for the acute housing crisis is required, noting that the difficulty of accessing lending and the nonsense of the banking system are part of the problem.
He referred to the role of the OSS, stressing that it offered significantly lower interest rates than commercial banks, but did not have the necessary tools to operate on an equal footing in an oligopolistic banking landscape. He accused the previous government of not only not supporting the organization, but left it without administration and modern software.
He appealed to support the OSS, who is calling for it to expand and be strengthened with 30 new jobs, proposing staff transfer from KEDIPES to strengthen the organization.
DISY parliamentary spokesman Nikos Turnaritis responded to AKEL, rejecting the party’s criticism of finance management. “AKEL will not take us a financial lesson,” he said in financial management under AKEL government. “A little humility does not hurt,” he said.
Source: KYPE