New affordable housing project launched in Kokkinotrimithia

The Cyprus Land Development Corporation (CLDC) has announced a new affordable housing project called Danae V in Kokkinotrimithia. The development will include ten three‑bedroom homes — eight semi‑detached and two detached — priced between €247,200 and €274,200 (excluding VAT). Each home will offer 136–138 square metres of living space, covered parking, energy‑efficient features such as photovoltaic systems, insulated aluminium frames, and provisions for electric car charging points.

This project reflects Cyprus’ growing focus on affordable and sustainable housing, especially as the country prepares to lead the European Union Presidency in 2026. Interior Minister Constantinos Ioannou has emphasised the need for EU‑level strategies to make housing more affordable, with financial and technical support for member states. Danae V is part of this broader effort, offering quality homes designed for families and aimed at improving stability and quality of life in a rapidly developing area.

Applications for Danae V opened on October 1 and will close on November 30. The CLDC describes the project as a “reliable investment in the future” amid rising housing costs — both in Cyprus and across the EU. Between 2010 and 2022, EU housing rents rose by 18% and prices by 47%, while Cyprus saw a 2% rise in house prices in early 2025, underscoring the importance of affordable housing initiatives.