Minister Ioannou addresses housing policy at Nicosia real estate conference

On Tuesday, Minister of the Interior Constantinos Ioannou spoke at the 'Real Estate, Property Development and Construction' conference in Nicosia regarding housing challenges. He highlighted that rising prices, limited supply, and financial barriers are affecting many residents, particularly young families and middle-income households. The Cypriot Presidency of the Council of the EU has prioritized affordable housing as a key strategic objective. The government's proposed strategy relies on four pillars: increasing housing supply, reducing bureaucracy, boosting investments, and supporting vulnerable groups. Specifically, the government plans to facilitate the construction of 2,500 new homes within the next two years through incentives and building coefficients. Efforts also include promoting a new Pan-European Investment Platform and encouraging public-private partnerships. Furthermore, the strategy aims to repurpose existing buildings and improve data sharing among EU member states to ensure sustainable access to housing.