Cyprus interior minister announces land development and housing reforms

At the 16th Nicosia Economic Congress, Cyprus Minister of the Interior Konstantinos Ioannou outlined government efforts to digitize and simplify land development and construction licensing. Ioannou stated that the new fast-track procedure has processed over 2,100 applications for small residential units within 40 working days and 660 apartment building applications within 80 days, compared to previous wait times of 12 to 20 months. A broader modernization of the Department of Lands and Surveys is planned for completion by 2027, including digital applications and the use of private appraisers for auctions. The government aims to address housing market pressures caused by geopolitical factors and rising construction costs. Policy measures include urban planning incentives that allow for an increase in building density of up to 45%. These incentives are projected to create over 2,500 new residential units within the next two years, with approximately 400 designated as affordable housing. The government expects these reforms to help over 5,800 households meet their housing needs more rapidly.