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State
Housing Fund Plan
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The state housing plan provides financial
assistance for the obtainment or improvement of a privately
owned home for permanent residence in areas which are
selected by the plan. The plan aims to meet the needs of the
family.
The plan covers the following categories:
1. Homes for large families
The plan is Cyprus-wide, without limits
on areas, annual earnings are not taken into consideration
(since 01.07.08).
The term ‘large families’ describes
families with at least four dependent children. Dependent
children are boys up to the age of 20 and girls up to the
age of 18 provided that they are in school or fulfilling
their military service. In the event where the child is
registered in a post-secondary institution, the age limits
are raised to 25 for males and 23 for females.
The term ‘disabled’ means individuals who
receive state aid, individuals who have had a or limb
amputated, spinal problems or any other serious long-term
illness. Also covered by the term are individuals with have
a disability level of 50% or are deemed blind or deaf.
Blindness and deafness must be certified by a medical
officer.
2. Homes in specific communities/areas
a. Housing in areas with a population up
to 500 or with a population greater than 500 but in an area
over 35 kilometres from the closest urban area and/or at an
elevation of over 450m.
b. Housing in specific areas along the
Green Line of Nicosia and in Aghios Dhometios.
c. Housing in specific communities which
are along the line of contention (Pano Pyrgos, Kato Pyrgos,
Pygeneia, Pachyammos, Mosfili, Denia, Mammari, Athienou,
Troulli, Pyla - specific area, Strovilia, Lympia, Potamia,
Deryneia - specific area, Ahna, Frenaros, Aheritou and
Avghoro).
3. Conditions/criteria for financial
assistance
a. Applicants can receive financial
assistance from only one State Housing Plan program and only
once. It is understood that the provision of a state
building plot to needy families is not considered part of
the State Housing Plan.
b. The applicant must not possess any
other residence..
c. The maximum size of the residence is
230m2. This does not include uncovered verandas, sheds,
etc., unless their size exceeds 50m2., covered verandas
unless their size
Exceeds 20% of the built area of the same
floor. It is understood that uncovered verandas and any
other extra areas must not exceed the permitted build area.
d. The applicants who are interested in
the purchase of a house or apartment must not be over
70years of age and must complete payment of any loans before
the age of 70. This age limit does not exist for those
interested in the preservation or expansion of a house or
apartment.
e. Financial assistance is not provided
to those who begin construction/improvement of property
before the application is approved, unless the construction
work that has been completed is up to the point of frame or
‘skeletal’ construction with roof only, then financial aid
will be provided in its entirety.
f. The building permit must be obtained
before construction begins.
4. Persons entitled (if the above
conditions are fulfilled)
- Cypriot citizen or citizen of the
European Union, permanent resident of Cyprus (having
completed five years permanent, continuous residence in
Cyprus)
-Single parent
-Disabled individuals
-Members of large families
-Repatriated Cypriots
-Refugees
-Severely ill individuals
-Single individuals (over 35 years of
age)
5. The total financial assistance given
to each applicant will be in accordance to the applicant’s
familial situation in accordance to the following:
a. For the purchase/construction of
house/apartment the following financial aid will be
provided:
Family
Maximum level of assistance
Single or
Couple
Loan - €51,
259 Assistance - €17, 087
Three
members
Loan - €68, 345 Assistance - €17,087
Four
members
Loan - €85, 431 Assistance - €17, 087
Five members and
more
Loan - €102, 517 Assistance - €17, 087
b. Improvement, maintenance or expansion
of a house or apartment
A loan will be given up to a maximum of
€17,087. The sum will be 50% of the total amount required to
improve/maintain/expand the residence up to a maximum of €8,
543. The loan is optional.
For individuals over the age of 70: The
assistance or part of the assistance will be given once
proof is given that they have also secured a loan or have
other funding. Persons under the age of 70 may choose to
obtain funding, or arrange a loan and apply for funding if
the loan will be paid back before the age of 70.
Furthermore, the Housing Fund will require collateral or two
or three guarantors for the loan.
6. The loan can be paid back over a 30
year period if used for the construction or purchase of a
home or up to 8 years if the loan if for immprovement/maintenace
of a home, with a subsidised interest rate of up to 65% of
the base rate. It is understood that the loan must be paid
back before the 70th birthday. The loan will be
given by the Housing Fund. For the purchase/construction of
a new residence/apartment, it is necessary to provide
collateral. For the improvement/maintenance/expansion of a
new home, the Housing Fund will accept a second mortgage or
two or three guarantors.
For further information, please contact
the following offices:
Nicosia 22.804146
Limassol 25.806460
Larnaca 24.801818
Paphos 26.801200
Famagusta 24.801017
HOUSING PLANS FOR NON-REFUGEES
General Housing
Plan
(as of
01/01/2007 and amended 01/07/2008)
The General Housing Plan covers the
following categories:
1. Housing for large families and
disabled persons
The plan covers all of Cyprus, without
geographic restrictions
2. Persons who prefer housing in specific
geographic locations or communities
Housing in communities with a population
of up to 500 or with over 500 homes, but not more than 35 km
away from the closest residential centre and/or at an
elevation over 450 metres.
Housing in select locations along the
Green Line (Nicosia - Ayios Dhometios)
Housing in communities along the
ceasefire line
See list of villages included in the Plan
Criteria/Requirements for financial
assistance
The family of the applicant must not own
any other property
There are no income criteria brackets for
applicants who select an area from the list of villages.
Income criteria that was set for members of large families
and the disabled no longer exists as of 01/07/2008.
Applicants who are interested in the
purchase/construction of a residence or apartment must not
be over 70 years of age, provided that they will be able to
pay back their loan by their 70th birthday. There
is no such age limitation for those who seek only the
improvement/maintenance/expansion of a house or apartment.
A building permit must be obtained
beforehand.
Applicants must not have received prior
financial assistance for housing.
The maximum size of a residence is 230m2.
Construction must not progress beyond
the stage of frame or roof construction until the loan is
granted.
Applicants must be Cypriot residents or
citizens of the European Union, permanent residents of
Cyprus (five years’ permanent residence in Cyprus).
Single individuals are covered by the
Plan only if they are over 35 years of age.
Assistance provided by the Plan
The amount of €17, 087 is the maximum for
the construction or purchase of a house or apartment and the
sum of €51,259 to €102,517 - with a subsidy of 65% of the
basic interest rate- in accordance to the size of family.
For the construction/purchase of a
house/apartment, the grant amount of €8,543 is provided,
along with a loan of up €17,087.
Applicants who are interested in the
purchase/construction of a residence or apartment must not
be over 70 years of age, provided that they will be able to
pay back their loan by their 70th birthday. There
is no such age limitation for those who seek only the
improvement/maintenance/expansion of a house or apartment.
The Housing Plan incorporates the
following plans:
Green Line
Agricultural Areas
Communities with populations under 200
Isolated Areas
Large Families
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Housing Plan for Persons with Relatives
who require assistance
This plan covers the housing needs of
parents of any age, with their children (also for parents of
children with special needs requirements, disabled, etc.).
Requirements for assistance:
Applicants must not have any other
residence or the financial ability to cover the cost of a
home.
The annual net income must not exceed €5,
981 for one person and €9,398 for two persons.
A building permit must be obtained
Financial assistance is provided at the
following levels:
€8, 544 for the construction of a
bedroom/shower/toilet
€12, 815 for the construction of a
bedroom/shower/toilet
€6, 835 for the improvement/alteration or
improvement of a home
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