The Cyprus land development corporation (CLDC) on Thursday announced a new affordable housing project in Kokkinotrimithia dubbed Danae V.

The project will include ten three‑bedroom homes. Eight of these will be semi‑detached, and two will be detached. Prices will range from €247,200 to €274,200, excluding VAT.

The announcement comes amid a broader focus on affordable and sustainable housing in Cyprus, as the country prepares to take on the European Union Presidency in 2026. Interior Minister Constantinos Ioannou stated on Monday in Copenhagen that “laying the foundations for a European affordable housing strategy” will be among Cyprus’ key priorities. He emphasised the need for sustainable housing policies and the incorporation of best practices, with particular emphasis on affordability.

Each home will have a floor area of 136-138 square metres. Covered parking will be provided for residents. The houses will meet energy class A standards and will feature a photovoltaic system, insulated aluminium frames, and an external thermal insulation system. Provisions will also be made for electric car charging points.

In Copenhagen, Ioannou stressed the need for more decisive EU‑level action to support affordable housing. He underlined the importance of financial and technical support for governments to develop effective housing policies. His discussions with Dutch Minister of Housing Mona Keijzer and French Minister Valerie Letard focused on overcoming bureaucratic obstacles and tailoring strategies to each member state’s needs. The Kokkinotrimithia project can be seen as part of Cyprus’ local effort to align with these broader EU housing goals.

Applications to purchase a home in the Danae V project opened on October 1 and close on November 30. Interested buyers can apply through the CLDC website at www.cldc.org.cy.

The CLDC stated that the homes are designed with a focus on quality and safety. They described the project as ideal for families who want to own a home in an area of active development.

According to the organisation, Danae V continues the CLDC’s work to provide housing that meets real living needs. The aim is to offer stability, safety, and improved quality of life for families. The CLDC added that the project represents “a reliable investment in the future” in a rapidly developing area that supports the needs of modern families.

Eurostat data shows that between 2010 and 2022, housing rents in the EU rose by an average of 18 per cent and house prices by 47 per cent. In Cyprus, house prices rose by 2 per cent in the first quarter of 2025 compared with the previous year, with rents continuing to increase across the island. Across the EU, property prices rose by 5.7 per cent year-on-year, underlining the urgency of affordable housing measures.