MP Michalis Giakoumis has submitted two bills to the Cyprus Parliament aimed at tackling the housing crisis — one of the country’s most pressing social issues.
The first bill provides for the establishment of a Housing Policy Fund, a permanent financing mechanism for housing policy implementation. The Fund will be primarily financed through a 1% levy on property transfers exceeding one million euros, as well as from European, national, and international resources.
Its revenues will be deposited into the State Treasury and used exclusively for social housing programmes, rehabilitation of housing stock, and support for vulnerable groups, young individuals, and young couples. It will operate under the supervision of the Minister of Interior.
The second bill proposes the creation of a Unified Housing Policy Council, a coordinating and advisory body to formulate a National Housing Strategy. It includes a Housing Observatory, a Housing Schemes Information Centre, and an online portal for citizens.
Notably, DISY had already submitted a similar bill in December 2025, while AKEL calls for bold, socially just housing measures. Interior Minister Konstantinos Ioannou reaffirms that affordable housing remains a top priority of Cyprus’s EU Council Presidency.
