Cyprus president highlights affordable housing push at Adonis III launch in Polemidia

Limassol, Cyprus. President Nikos Christodoulides said on Tuesday that the government’s commitment to facilitating affordable housing is being demonstrated through concrete results, as he laid the foundation stone for the Adonis III project in Polemidia.

He said the government’s policy is based on a comprehensive framework and specific plans, and described the project as a tangible result of those efforts.

Government housing policy

In his remarks, Christodoulides underlined the government’s efforts to tackle what he described as a housing challenge facing not only Cyprus but much of Europe.

He said the project was another example of what can be achieved with a plan and clear political will.

Project details

The Adonis III development is being undertaken by the Land Development Corporation (Koag) and features 29 three-bedroom semi-detached homes.

The contractors for the project are A. Aristotelous Construction Ltd.

Pricing and applications

Prices for the homes range from €263,000 to €320,000. The first application period for interested buyers runs from June 1 to August 31.

According to Koag chairman Theseas Ioannou, the prices are more than 20 per cent below market rates in Limassol.

Broader government drive

The project is part of a broader government effort to increase the stock of affordable housing across Cyprus.

The government has accelerated licensing procedures, invested in state land, and introduced incentives aimed at increasing housing supply.