The Cyprus Energy Ministry released an update regarding the saving scheme for first time home owners in Cyprus. They can now apply to receive funding towards an upgrade to homes on behalf of the Energy Ministry which has been acted out for all natural persons who permanently reside in the Republic of Cyprus.
Starting this month, the ministry will be accepting applications for the subsidy scheme for those in need of thermal insulation of roofs for existing residences on the island with the following requirements.
With an allowance of €3 million, the scheme is expected to cover as many as 2,500 applications for those in need of roof insulation or rebuilding; and a total budget of €8 million for other property renovations under the programme.
The scheme aims to make properties more energy efficient which in turn will undoubtably improve other areas of life for the Cyprus homeowner. The scheme will remain in effect accepting applications until the entire allowance has been used up.
For more information or to make an enquiry, click here for government information.
Contact us for more details about the scheme, we have local property experts that would be happy to help.