Nicosia: The issue of affordable housing will hold a significant place on the agenda of the Cypriot Presidency of the Council of the European Union, President Nikos Christodoulides announced at the annual General Assembly of the Cyprus Property Developers Association. He emphasized that the government aims to implement specific actions at the European level to address this issue.
According to Cyprus News Agency, President Christodoulides highlighted the crucial role that the real estate and land development sector plays in Cyprus’ economic development. He stated that the government is committed to strengthening the institutional, tax, and administrative frameworks within which the sector operates. The President noted advancements in the permit process and digitalization efforts that have reduced processing times and delays significantly.
President Christodoulides reiterated the government’s prioritization of housing since assuming office. He outlined measures already taken to focus on affordable housing for young people and announced two new policies aimed at alleviating the housing problem. He confirmed that housing will remain a key focus during Cyprus’ EU Presidency, with specific actions being pursued at the European level despite housing issues traditionally falling under national competence.
He revealed that housing was discussed at the European Council level for the first time last October, with a recent EU decision allowing existing Cohesion Fund resources to be used for housing purposes. The European Commission President is expected to present the European Affordable Housing Plan publicly in December, which Cyprus plans to utilize.
President Christodoulides also touched on Cyprus’ economic resilience amidst geopolitical challenges, noting continued strong economic performance that allows investment in Health, Education, and Housing. He mentioned upcoming announcements regarding intergovernmental agreements with an EU member state, a Gulf country, and an Asian country to bolster foreign investment in Cyprus.
Yiannis Misirlis, President of the Cyprus Property Developers Association, expressed the sector’s readiness to support efforts in tackling the affordable housing challenge. He described the real estate development sector as a pillar of the Cypriot economy and emphasized the importance of maintaining the dynamic course Cyprus has followed in recent years. Misirlis reaffirmed the Association’s commitment to contributing to the resolution of housing issues during Cyprus’ EU Presidency.