Accompanying the president were key government figures, including Interior Minister Constantinos Ioannou, Migration Deputy Minister Nicholas Ioannides, Deputy Minister to the President Irene Piki, Government Spokesperson Konstantinos Letymbiotis, and the head of the president’s press office, Victoras Papadopoulos.
Representing the Cyprus Property Developers Association were prominent members such as Chairperson Yiannis Misirlis, Deputy Chairperson Demetris Assiotis, Vice President Antonis Kakoullis, Secretary General Savvas Georgiades, Board Member Panikkos Livadiotis, Honorary President Michalis Hadjipanayiotou, and Executive Secretary Antonis Fragoudis.
Key Points of Discussion
President Christodoulides initiated the meeting by outlining the government’s housing strategies and the broad issues impacting both the public sector and the real estate industry. He expressed specific gratitude to the association for its constructive cooperation with the government, especially in developing and fine-tuning the housing schemes launched by the Interior Ministry. The president highlighted that the association’s input has been crucial in enhancing these schemes to make them more attractive and effective in addressing the significant national challenge of housing, which remains a top priority for the current administration.
The president further noted that public response to these initiatives has been “particularly positive,” demonstrating the schemes’ resonance among Cypriot citizens.
Government Housing Schemes
Among the innovative schemes discussed were several flagship policies:
- “Stegazo to Mellon mou” (Housing My Future): This initiative features planning incentive schemes designed to support young people and families. Developers can obtain up to 45 per cent additional building density if they allocate extra units specifically for affordable housing, or alternatively, contribute to a designated special fund. These incentives are projected to generate over 1,900 new housing units dedicated to affordability.
- Build-to-Rent Programme: This scheme aims to expand the supply of affordable rentals, providing more options for young families in particular.
- Renovate & Rent Scheme: Property owners of vacant or underutilized buildings are encouraged to refurbish and rent their properties at affordable rates, helping to bring idle properties back into productive use.
These programmes collectively seek not only to boost housing availability but also to encourage private sector participation in the drive towards more inclusive, accessible, and sustainable living options.
Role of the Real Estate Sector in Economic Growth
The meeting also underscored the central role played by the real estate development and construction sector in Cyprus’ wider economic and social development. The Cyprus Real Estate Developers Association, in a statement released after the meeting, described the dialogue as “constructive” and highlighted the mutual commitment to fostering a more competitive and dynamic sector that is well-positioned to underpin national economic growth.
Discussions at the meeting touched on a broad range of issues affecting the industry, including the need to accelerate building permit issuance and to simplify administrative procedures. The association welcomed the Interior Ministry’s ongoing efforts to streamline processes and emphasized the importance of enhancing the effectiveness of local government district organizations.
Ongoing Challenges and Cooperative Solutions
Housing affordability and access remain among the most urgent issues facing the Cyprus market. Yiannis Misirlis, Chairperson of the Cyprus Real Estate Developers Association, emphasized in the meeting that addressing these challenges remains a shared priority for both the association and the government. He also noted that the association has submitted additional proposals to further support and strengthen public housing policy.
At the close of the meeting, Misirlis expressed gratitude to President Christodoulides for the open and productive exchange, reaffirming the association’s ongoing commitment to contributing responsibly and proactively to the evolution of a modern, functional, and sustainable real estate sector. The association reiterated its intention to maintain its vital role as a driver of national economic growth while ensuring that housing needs are met for all segments of society.
In summary, the June 23 meeting at the presidential palace highlighted a robust public-private collaboration focused squarely on tackling Cyprus’s housing needs, reinforcing the significance of the real estate sector as a cornerstone of both economic vitality and social well-being.