For this purpose, a special program has already been developed, which can be used by both citizens of the country and visitors with EU passports, provided that they have lived in the republic for at least 5 years. At the moment, applications are being accepted, which will be considered by the end of this year. Their consideration is entrusted to the Cyprus Land Registry Organization.
It is also known that the authorities managed to attract large developers to the construction of inexpensive real estate. A significant part of the housing will be built in Nicosia, Strovolos or Lakatamia. The average cost of an apartment of 80 sq. m. according to government plans should not exceed 70,000 euros. The owners will be banned from selling real estate for 10 years. The applicant can use the program only once.
