Cyprus government expands housing subsidy program for young people

The Cypriot Ministry of Interior has announced an expansion of its housing subsidy scheme for individuals and couples aged up to 41. Minister Constantinos Ioannou stated that due to high demand, an additional 11 million euros will be allocated to cover 277 applicants who were initially on a waiting list. Originally, the program provided up to 50,000 euros each to 400 beneficiaries with a budget of 14.5 million euros. A total of 1,018 applications were submitted, of which 677 were approved, while 418 were rejected due to incorrect documentation. The minister clarified that rejected applicants cannot resubmit documents as the application window has closed. The remaining 277 successful beneficiaries are expected to be notified of their approval by June. This measure is part of the state's broader housing policy aimed at increasing residential stock and supporting the purchasing power of citizens.