New Government Housing Plan for low income families
Who can benefit from the Plan:
The housing plan applies to couples acquiring their first permanent residence in Cyprus or European citizens who live permanently in Cyprus the last five years. The Plan can be used for building a new home on a piece of land or for the buying of a villa or apartment. The loan funds will be released gradually according to the progress of works.
Loan Amount:
Can be up to €200.000 and can consist up to 75% of the purchase price of the villa/ apartment and up to 5 times the yearly income of the buyers.
Interest rate:
Beneficiaries will enjoy a 0% interest rate for the first 2 years and the current interest rate for the rest of the loan period, which today is 5,25% and applies for low-income family loans by the Housing Finance Corporate.
Repayment Period:
Up to 30 years.
The above interest rates can be amended by the Housing Finance Corporate, as well as the instalment of the loan.
