Government extends interest rate subsidy scheme

The Government decided to postpone the deadline for the interest rate subsidy scheme it introduced back on the beginning of the pandemic in March 2020. The subsidy is of interest is up to 1.5% for the first four years of the loan for a first residence up to €400,000.

For companies and self-employed people the subsidy will be up to 2% for the first two years, and drop to 2% for the third and fourth year for small and medium size companies and up to 1.5% for large enterprises.

Author: Christos Nikolaou

BEng Mechanical Engineering, MSc Real Estate, ETEK Property Valuer, Register and Licensed Real Estate Agent.

Christos Nikolaou is the founder and Managing Director of Property Canvas, he holds a license as an Estate Agent from the Association of Real Estate Agents of Cyprus and he is a registered Property Valuer in the Technical and Scientific Chamber of Cyprus (ETEK). He is the author of our “Government extends interest rate subsidy scheme” and is a certified advance negotiator.