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K.O.A.G Director: “250 new housing units are coming throughout Cyprus”- What are the income criteria for purchase

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Διευθύντρια &Kappa ;.Ο.Α.Γ: “Ερνται στεγαστ ιονεολτηο ”- Ποια εισοδκκριρι α για αγορà

K.O.A.G announcements – Exclusive statements by Ms. Eleni Symeonidou, general director, at PODCAST by G&P LAZAROU with Anna Maria Eftychiou

More than 5,000 families have received to date shelter from the Cyprus Land Development Organization (K.O.A.G.), which today more than ever strengthens its role and raises its voice to provide shelters to families and individuals (monasteries) in need and belong to the low and middle income strata.

According to the exclusive statements of the General Director of the Greek Chamber of Commerce, Mrs. Eleni Symeonidou, during a podcast conducted by the journalist and director of Public Relations and Communication of the Real Estate company “G&P LAZAROU Estate Agents” Anna-Maria Eftychiou, 250 new housing units are “coming”. throughout Cyprus while at the same time units will also be given for rent (“affordable rent”) in Limassol, where we all know how difficult it is to buy houses, apartments or even to rent them. These units will be ready by 2026.

Where will the new residential units be built

He even revealed that the first project that will be given the possibility of rent, in consultation with the Municipality of Limassol, will be in the Agios Nikolaos area and will involve the construction of 138 apartments, with rents that will be 30% below the average rent of Limassol depending on the property.

During the “G&P LAZAROU Estate Agents” podcast, the method of paying off debts to “KOAG”, which the Organization gives to its old clients, was also discussed.

Mrs. Symeonidou also mentioned that at this stage there is availability of apartments in Kaimakli and even at very low prices, such as for example the two bedrooms, at 149,000 euros + VAT. This is a critical area in which those interested can receive a relevant grant from the state.

Possible cooperation with brokers!

< p>Among other things, the CEO of “KOAG”, left open the possibility of future cooperation with brokerage companies under terms and conditions due to the specialized role of the Organization, following a public offer.

Income Criteria:< /u>

It is worth noting that the income criteria for interested parties who wish to purchase a home from the Housing Authority have been revised by decision of the Council of Ministers dated 8/6/2022.

The annual gross incomes according to which the households or individuals to whom housing units are sold by the Agency are selected are as follows:

The annual gross income depending on the composition of the family should not exceed:

*Single Person – Up to €25,000

*Couple (family of two) or single parent family – Up to €45,000

*Family of 3 – Up to €50,000

*Family of 4 -Up to €55,000

Family of 5 or more people – Up to €65,000

The down payment is 20% of the sale price and the remaining 80% is paid gradually according to the progress of the works.

For the evaluation of applications, other criteria are taken into account such as:

  1. Loan repayment capacity.

2. Movable and immovable property, housing conditions, etc.

3. Family composition.

  1. Continuous residence for 5 years for citizens of member states of the European Union.

See the full podcast here:

G&P Lazarou Estate Agents aims to be a pioneer in the field of real estate information for all its client groups and beyond. Through the company's website, it aims to provide immediate, timely and more complete information, update and service to all those interested in its activities, as well as the news surrounding the economy and the market of Cyprus.

Source: 24h.com.cy

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