The Minister of the Interior said that after the announcement of the housing measures, there is continuous communication with professionals.

Great interest is being shown by developers and land development professionals to take advantage of the special housing incentives for the production of affordable housing for sale and rent, said the Minister of the Interior, Mr. Konstantinos Ioannou, today.

Mr. Ioannou, speaking after the conclusion of the Cabinet session, noted that after the announcement of the housing measures in October 2023, there is continuous communication and dialogue with construction sector professionals, aiming to improve the Plans.

As the Minister pointed out, the suggestions and views of professionals in the land development sector were taken into account, and it was decided to modify and expand the criteria to make the urban incentives and the “Built to Rent” Plan more attractive for the private and broader public sector for the production of affordable housing.

The Cabinet approved a series of modifications today, which include:

• In the first category, the requirement for net area has been reduced from 4,000 to 2,000 square meters.

• Inclusion of additional Categories and Residential Zones.

• In the second category, the criterion has been reduced from 1,000 square meters to 800 square meters.

• Modification of the mixing ratio of residential unit types for the entire development, aligning with the provisions of the current Development Plan.

• Adjustment of the ratio of the Buildable Area Incentive in favor of the property under development from 20% to 25% and in favor of the production of Affordable Housing from 25% to 20%.

• Provision for the Planning Authority, at its discretion, to allow the purchase of visitor parking spaces, provided that at least one functional parking space is secured for each residential unit within the developing plot.

• Provision for the Planning Authority, at its discretion, to allow slight deviations from the expected Buildable Area resulting from the use of the Incentive for affordable housing purposes, for rational development planning.

• Designation of the Director of the Department of Town Planning and Housing as the competent Planning Authority for examining urban planning applications for developments utilizing the Incentive.