The measures announced by the Government regarding the new unified housing policy are a step in the right direction, Yiannis Misirlis, the Founding Director of Imperio Group says, while calling for them to be implemented as scheduled.
Asked by InBusinessNews to comment on the announcements on affordable housing and also to submit his suggestions for solving the major issue of housing, Misirlis said that the intervention of the state in issues such as housing is considered crucial.
“It is with particular satisfaction that we recently saw, the Ministry of the Interior’s announcement of measures, which, in fact, are in the right direction as, mainly, they aim to increase the available properties,” Misirlis pointed out.
Some of his recommendations concern the construction of new homes for rent with a specific timeline, the implementation of a special ‘Help to Buy’ state support plan which has been successfully implemented in other European countries, as well as the simplification of the procedures required for licensing.
New homes for rent with a specific time horizon
Analysing the data on the market, Misirlis explained that the high prices in real estate, for purchase and rent, are today one of the most serious challenges facing the construction sector, noting that the problem is created due to extremely reduced supply of available properties, for which there is an increased demand.
“And the lack of interest in the construction of new projects further exacerbates the problem, with a direct consequence of the increase in prices. At the same time, the demand for housing is increasing more and more, resulting in a housing issue that needs to be addressed immediately,” he added.
Yiannis Misirlis considers it necessary to take care of the construction of new houses for rent with a specific timeline, based on a study of the real needs that exist, pointing out the need until 2030 to build a certain number of houses to satisfy the great demand that exists from families, young couples, young workers, Cypriots and foreigners.
‘Help to Buy’ scheme
“It is important that these developments are built on the basis of bioclimatic planning, while it should be possible to make them available for sale through a special ‘Help to Buy’ state support scheme, which has been implemented with success in other European countries”, suggested the Founding Director of Imperio Group, noting that the announced tax and urban planning incentives are also a step in the right direction.
Simplifying licensing procedures
It is also necessary to simplify the procedures required for licensing, he went on to say.
“No one disputes that the system needs modernising and I could only welcome the recently announced measures on this serious matter, which we hope will soon be implemented to eliminate the enormous delays that arise through the existing system,” Misirlis said.
Acknowledging that measures announced by the government are a first step in the right direction, he clarified that it is necessary to implement the announcements on the basis of specific timelines announced.
Source: Cyprus Business News