The government is insensitive to the problems of the people and very sensitive about the interests of the banks, big law firms and big property developers

Statement by AKEL C.C. Spokesperson Stefanos Stefanou on the Central Bank’s warnings regarding rising property prices

AKEL C.C. Press Office, 6 March 2019, Nicosia

Everyone is worried about rising property prices, but the government doesn’t give a damn. It doesn’t sweat over the issue.

This time it is the Central Bank that is warning about the dangers of the continuous increase in the price of residential homes and apartments The Central Bank indeed relates the fact of the increases in property prices with the government scheme of granting “golden passports” to third-country nationals.

The rise in property prices, together with the reduction in wages, has made acquiring a residential home a pipe dream for the overwhelming majority of young people, but not only youth.

The government however isn’t moved by the enormous problem that is growing. The only thing it is interested in is to take care of relatives and cronies, grant passports and construct towers/skyscrapers inflating their millions.

Not only is the government doing nothing, not only has it put an end to every housing program, but it is in fact shifting the responsibility for this state of affairs on young people themselves, because – according to Finance Minister H. Georgiades – they prefer to pay rent instead of buying a house. In truth, how much nerve and cheek do the government and ruling forces have at the end of the day?

The government is insensitive to the problems of the people and very sensitive about the interests of the banks, big law firms and big property developers.