Minister of Interior addresses housing crisis during Cyprus EU Council Presidency

Cypriot Minister of Interior Constantinos Ioannou spoke at the Permanent Committee on Cadastre in Paphos, emphasizing the urgent need for a coordinated European strategy to resolve the housing crisis. Ioannou highlighted that high construction and energy costs, rising rents, and limited financing are pressuring young people, low-to-middle income households, and vulnerable groups. He welcomed the European Commission's European Affordable Housing Plan as a key step toward improving housing supply and investment. Domestically, the minister noted that Cyprus faces an imbalance between supply and demand, with measures expected to yield practical results within two to three years. To support young citizens under 41, the Ministry expanded its subsidy scheme from 400 to nearly 700 beneficiaries. The total budget for this initiative reached 26 million euros, following an additional allocation of 11 million euros from internal savings. Eligible applicants will receive subsidies ranging from 30,000 to 50,000 euros depending on their specific circumstances.