Filenews 24 April 2025
The horizontal increase of the income criteria by €5,000 of the Housing Scheme for Moderately Paid Persons implemented by the Cyprus Land Development Organization (COAG), was approved by the Council of Ministers on Thursday.
As stated in an announcement by the Ministry of the Interior, the Plan provides for the design, construction and sale of residential units and plots of land to the beneficiaries of the Organization, based on income criteria and family composition.
It is noted that "the increase in income thresholds for the beneficiaries of the Plan was taken in order to correspond to the current economic and social conditions and is in line with the recent revision of the income criteria of the housing plans of the Displaced Persons Care and Rehabilitation Service".
The purpose of the expansion of income limits, it is said, "is to increase the number of beneficiaries and facilitate the access of more households, especially young people, to affordable housing options to meet their housing needs".
"The decision also contributes to the effort made through the integrated housing policy of the State to address the housing problem that mainly concerns the socially and economically vulnerable groups of the population," the statement concludes.
CNA
