Government grant for the purchase of new property: Individuals purchasing property in Cyprus, provided that it will be used as first residence, are eligible for a government grant. Individual entitled for the grant is:

• 18 years of age
• citizen of the Cyprus republic or any EU member state and
• Does not use any other residence as first and permanent place of residence

The grant is subject to the following conditions:

• The application for the issue of building license was filed at the Town of Planning and Housing Department after the 1st May 2004
• The residence is to be used for the first time as primary and permanent place of stay and
• The property should not exceed 250 sq. m2.