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Rental assistance for minimum guaranteed income beneficiaries to increase by 50%

July 16, 2019 at 1:12pm

Rental assistance to beneficiaries of the minimum guaranteed income will increase by 50% on August 1.

According to a Labour Ministry announcement, during the latest House plenary on Friday, parliamentarians unanimously approved new amendments on the Minimum Guaranteed Income law, increasing rental assistance and the state subsidy on interest for house mortgages.

The decision is based on a state-sponsored study on rent prices between December 2018-January 2019.

A different Labour Ministry survey showed rents in Limassol and Nicosia have risen by 40% and 33% respectively in the period of 2015 to 2018.

Over the period 2015 to 2018, the government has paid €31 million in rent assistance while the ministry immediately responds to personal appeals to help individuals and families with a housing problem, according to Labour Minister Zeta Emilianidou.

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Government to unveil new housing policy to respond to rising rents