The issue of affordable housing will have a significant place on the agenda of the Cypriot Presidency of the Council of the European Union, said the President of the Republic, Nikos Christodoulides, at the annual General Assembly of the Cyprus Property Developers Association, noting that the government will work towards the adoption of specific actions at the European level.
Addressing the General Assembly, he said that the real estate and land development sector has consistently been at the core of Cyprus’ economic development, adding that the Government recognises the importance of the sector and is working to further strengthen the institutional, tax, and administrative framework within which it operates.
President Christodoulides referred to the acceleration of the permit process and the digitalization of the applications and their electronic examination, that have contributed to drastically shortening processing time and reducing unjustified delays
‘Housing has been our highest priority since the very first day of taking office,’ he stressed, referring to a series of measures already taken by the Government as part of its comprehensive housing policy, with an emphasis on affordable housing for young people. The President also referred to the two policies announced today by the government to ease the housing problem.
“Housing is one of the issues that will hold a significant place on the agenda of the Cypriot Presidency of the Council of the European Union,” he stressed, adding that ‘we will work toward the adoption of specific actions at the European level.’ Despite the fact that housing issues are a national competence, he noted, ‘it is positive that the European Union, following our own intervention, is moving collectively to address this challenge.’
As he said, for the first time the housing issue was discussed at the level of the European Council last October and ‘following our intervention, through a recent EU decision, existing funds from the Cohesion Fund can now be used for housing purposes.’ He added that on 16 December, the President of the European Commission is expected to publicly present the European Affordable Housing Plan, ‘which we will certainly utilize.”
Continuing, President Christodoulides noted that despite geopolitical challenges and international disruptions, the Cypriot economy continues its upward trajectory with strong performance, ‘which allows us to look to the future with optimism and invest in the sectors of Health, Education, and Housing.’
The stability and growth path of the economy is also reflected in the increasing investment interest from Cypriot and foreign entrepreneurs, he said, reiterating that in the near future there will be announcements regarding intergovernmental agreements with three countries, an EU member state, a Gulf country, and an Asian country, which will further strengthen foreign investment in Cyprus.
President of the Cyprus Property Developers Association, Yiannis Misirlis highlighted the sector’s readiness to contribute to efforts to address the major social challenge of affordable housing.
‘The real estate development sector is a pillar of the Cypriot economy, a driving force shaping modern Cyprus and contributing to the progress of our country and its people,’ he noted in his speech, adding that the sector has remained a driving force of prosperity and progress for Cyprus, despite the challenges the country has faced in recent years.
He highlighted the need to continue the dynamic course the country has followed in recent years, stressing that affordable housing constitutes the greatest social challenge. ‘During Cyprus’ upcoming Presidency of the EU, our country can, with strong determination, contribute substantially to efforts to address the problem,’ he said, noting the Association’s readiness to support this effort.