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Cyprus Unveils Two New Housing Schemes To Ease Affordability Pressures

by THEFUTURE.TEAM

September 9, 2026

Cyprus has introduced two housing schemes aimed at expanding affordable housing, increasing supply and helping families facing rising property costs. Announced by Interior Minister Constantinos Ioannou, the measures combine public land, planning changes and incentives to make better use of existing properties.

Families Can Add A Floor

One scheme allows homeowners to add another floor for children or grandchildren, subject to specific conditions, even where the property has reached its permitted building density.

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An additional housing unit can be created within an existing building or through an extension, added floor or unused space on a plot. The unit can have up to 150 square meters of buildable area, rising to 180 square meters under certain conditions, with parking concessions and a 10-year restriction on transfers except through inheritance.

State Plots At 25% Of Market Value

A second scheme allows eligible households to acquire state-owned plots at 25% of market value. It targets Cypriot citizens under 45, including families with children, couples without children and single-parent families, subject to income and other criteria.

Around 570 plots are expected to be allocated to applicants from the first phase, with further subdivisions planned, particularly in mountainous, remote and disadvantaged areas.

More Housing Projects Underway

The new measures join existing programs supporting young families, rural communities and displaced persons. A program for young people and families up to 41 has supported 700 beneficiaries with €26 million, while other regional schemes approved 1,075 applications between 2023 and 2026, involving €43 million.

Affordable housing projects on state land include 460 planned homes at below-market rents. Meanwhile, the Cyprus Land Development Corporation has 702 units at the implementation, licensing or planning stage and is promoting another 135 plots.

Planning incentives and the Built to Rent initiative are expected to add more than 4,100 units over the next three years, including 1,142 for affordable purchase or rent. More than €22 million is also expected to go into the Special Affordable Housing Fund, supporting about 250 additional units.

Faster Approvals Aim To Expand Supply

Fast-track planning reforms have reduced approval times, with 2,533 detached and semi-detached homes licensed within 40 working days by the end of August. Another 1,242 apartment blocks and terraced housing developments were approved within 80 working days, affecting more than 15,000 families.

Ioannou said the broader strategy is focused on expanding the housing stock, making better use of public and private land, supporting households and speeding up delivery.

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Booking Holdings Loses EU Appeal In €1.63 Billion ETraveli Deal Ruling

by THEFUTURE.TEAM

September 10, 2026

Booking Holdings has lost its challenge to the European Union’s veto of its €1.63 billion acquisition of ETraveli, marking a significant victory for regulators and underscoring the bloc’s tougher stance on large-scale tech and platform deals.

European Court Backs Commission’s Merger Analysis

On Wednesday, Europe’s second-highest court sided with the European Commission, which blocked the deal in 2023 on the grounds that it would have deepened Booking’s market power and made it harder for competitors to challenge its position in online travel services.

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The Luxembourg-based General Court rejected Booking’s claim that the Commission had failed to follow its own merger rules and had applied the wrong legal test. In its ruling, the court said regulators were correct to conclude that acquiring ETraveli, one of Europe’s leading online flight booking platforms, would have reinforced Booking’s already dominant position in online travel agencies tied to hotel bookings.

Why Regulators Stepped In

The case reflects a broader shift in European competition policy. In recent years, the Commission has intensified scrutiny of acquisitions by dominant technology and platform companies, warning that so-called “killer acquisitions” can weaken competition by absorbing smaller but strategically important rivals before they grow into serious threats.

For regulators, the concern was not simply the size of the transaction, but the strategic logic behind it: combining a major hotel booking platform with a leading flight booking operator could have created a more integrated travel ecosystem that rival firms might struggle to match.

What The Deal Would Have Added To Booking’s Portfolio

Booking’s portfolio includes Booking.com, Rentalcars, Priceline and Agoda, giving it broad reach across global travel services. ETraveli, owned by private equity firm CVC Capital Partners, operates brands such as Gotogate and Mytrip and also provides airline content distribution through TripStack.

The combination would have expanded Booking’s ability to offer a wider set of travel products within a single ecosystem, a model that can strengthen customer retention but also raise concerns about market concentration and competitive foreclosure.

Appeal Still Possible

The General Court’s ruling does not necessarily end the matter. Booking can still appeal to the Court of Justice of the European Union, the bloc’s highest court, if it chooses to continue the legal fight.

For now, however, the decision stands as a reminder that in Europe, even large and established platform companies face increasing resistance when acquisitions appear likely to consolidate power rather than expand consumer choice.