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Affordable housing applications now open
The Cyprus Land Development Corporation (Koag) has launched a new affordable housing scheme in Nicosia, Limassol, and Larnaca. Applications are open from October 1 to November 30, 2025. The scheme gives eligible people the chance to register as beneficiaries and later purchase a home built under the Special Housing Incentive scheme for developers. Each property will be sold at a fixed price of €1,650 per buildable square metre.
The programme is open to Cypriot citizens and EU nationals who have lived permanently in Cyprus for at least five years. Applicants and their partners must not have owned another suitable home within the past five years. There are also income limits based on family size — from €25,000 for singles to €65,000 for families with five or more members.
To qualify, applicants must show that they can pay a 20% down payment and obtain a loan for the rest of the cost. Homebuyers must keep the property as their main residence for at least ten years and cannot sell or reapply for the scheme during that period. The goal of the programme is to make home ownership more accessible and support families across Cyprus.