Cyprus has a new plan for homes. The government will build about 500 rental homes. These homes will be for the state. President Nikos Christodoulides shared this news. The homes will be on land the state owns. This plan costs about €70 million. It will help young families and workers.
Many people in Cyprus cannot afford a home. Rent and buying prices are high. The government says homes are very important. They think spending money on homes is good. President Christodoulides said homes are a main goal.
The Cyprus Land Development Corporation will run the homes. Private companies will build them. The land for the homes is worth much money. It is in four big cities.
This is one part of the plan. Another part helps people buy homes. Many young families applied for help. Almost three hundred families got money. The government also helps private builders. They made about 260 cheaper homes.
There is also a plan for workers. These homes will be small. This makes them cheaper. It will help workers find homes. This helps important jobs. The government spent over €300 million on homes. They want to fix the housing problem.