Cyprus launches mortgage-to-rent scheme to broaden property access

Cyprus is operating a programme that enables people to purchase property through a mortgage before transitioning to a rent-to-own arrangement. While the mechanics may appear complex, the principle is straightforward: the state supports those unable to afford conventional mortgages.

To date, 800 apartments out of 1,200 approved have been enrolled in the scheme. State-owned enterprise Kedipes continues to process applications, with the initiative progressing at full pace. The programme has already consumed €97 million. The company maintains a reserve of €60 million specifically earmarked for financing the scheme.

For context: Kedipes is a state enterprise managing assets from the former cooperative banking system. Since 2018, it has returned €1.87 billion in support to the state—funds the financial system had previously received. This demonstrates that the programme is functioning and delivering results.

For Cypriot investors and those considering property on the island, this represents a significant signal: the market is evolving, with instruments now available to serve diverse categories of buyers.

Source: Cyprus Mail Property