Housing from a right has become a privilege

 

11 January 2024, AKEL C.C. Press Office, Nicosia

The new figures that have come to light on the price increases for acquiring apartments and houses prove what AKEL has been stressing for a sometime. Namely, that the right to housing has now become a privilege for a select few.

The unified housing policy announced by the Government, which has not yet been put into practice, does not correspond to what was included in the pre-election programme of Nicos Christodoulides with regards housing policy, but even more so, it does not meet the expectations of society and citizens. Primarily because it does not affect and address the major issue, which is the enormous difficulty that young couples in particular have in having access to sources of funding.

AKEL has for some time been submitting its proposals on housing policy and on addressing the increased cost of acquiring a home. Among other things, AKEL proposes an interest rate subsidy for housing loans, the improvement of the benefits of existing schemes so that they are in line with the cost of building and/or buying a house, but also the elaboration of a special lending policy by the Housing Financing Corporation, which must get back to fulfilling its social role and the purposes for which it was established.

11.1.2023