From October 1 to November 30, 2025, the Cyprus Land Development Corporation (KOAG) is accepting applications for its new Affordable Housing Programme, covering Nicosia, Limassol, and Larnaca. The initiative aims to make home ownership more accessible and support families looking to establish permanent roots on the island.
What the programme offers
Each property developed under the Special Housing Incentive Scheme will be sold at a fixed price of €1,650 per buildable square metre, significantly below current market rates in these key urban areas. This makes the initiative particularly attractive to young professionals, families, and members of the middle class seeking quality housing at an attainable cost.
Who is eligible
The scheme is open to Cypriot citizens and EU nationals who have lived permanently in Cyprus for at least five years. The main conditions include:
· Applicants and their partners must not have owned suitable housing within the past five years;
· Proof of ability to make a 20% down payment and secure financing for the remaining cost;
· The property must be used as a primary residence for at least ten years — resale or reapplication to the scheme during that period is not permitted.
Income criteria
To ensure the programme’s social focus, income limits have been established:
· Up to €25,000 for single applicants;
· Up to €65,000 for families with five or more members.
Why it matters
Cyprus’ real estate market has seen steady growth in recent years, particularly in coastal cities where housing prices continue to rise. The new KOAG programme helps balance this trend, offering access to quality housing not only for investors but also for local residents.
For developers, participation in such state-backed initiatives represents an opportunity to collaborate with the government and strengthen their reputation as socially responsible businesses.