Domakihub Renovate – Rent
Grants of €15,000–€35,000 to renovate a dwelling that has been vacant for at least 12 months and bring it back to the rental market — plus a tax exemption on the rental income.
Who qualifies
Owners of a dwelling that has been vacant, inactive or unused for at least 12 months. In return, the renovated home must be rented out long-term at an affordable rent under the scheme's terms.
What you can use it for
Renovation and repair works that make the vacant home fit to rent — e.g. bathrooms, kitchens, flooring, windows, installations
Timing: Owner applications 16 March 2026 – 31 December 2027 on prositistegi.cy.
How to apply
- 1 Check that the dwelling qualifies (vacant for at least 12 months)
- 2 Submit the owner application on prositistegi.cy (from 16 March 2026)
- 3 Carry out the renovation with qualified tradespeople
- 4 Rent the home out at an affordable rent under the scheme's terms
- 5 Receive the grant and benefit from the rental-income tax exemption
What the “Renovate – Rent” scheme is
«Ανακαινίζω – Ενοικιάζω» (Renovate – Rent) is a housing scheme of the Republic of Cyprus, part of the government's affordable-housing policy («Προσιτή Στέγη»), designed to bring vacant homes back into use. The state pays owners a grant of €15,000 to €35,000 to renovate a dwelling that has been standing vacant, inactive or unused for at least 12 months, on the condition that the renovated home is then rented out long-term at an affordable rent. On top of the grant, the scheme is combined with a tax exemption on the rental income. It is aimed squarely at a very common Cypriot situation: an inherited flat, an old family house or a second property that sits empty because the renovation never quite pays for itself. With most of the works funded and the rent tax-advantaged, bringing the property back to life suddenly makes financial sense.
Who qualifies
The scheme is for owners of residential units in the areas controlled by the Republic of Cyprus that have genuinely been out of use — vacant, inactive or unused for at least 12 months at the time of application. In exchange for the grant, the owner commits to letting the renovated dwelling long-term at an affordable rent, under the conditions set out in the scheme's implementation guide published by the Ministry of Interior and the Cyprus Land Development Corporation. The property itself must also meet the criteria on age and condition described in that guide. Because the fine print — permitted rent levels, commitment period, documentation — decides both eligibility and whether the deal is worth it for you, we review the current guide against your specific property before you apply.
Which works are covered
The grant funds the renovation and repair works needed to turn a tired, empty dwelling into a home someone can actually rent: typically bathrooms and kitchens, flooring, windows and doors, and the electrical and plumbing installations, along with the general repairs that come with a building that has stood unused. The goal of the scheme is a habitable, lettable home — so the budget flows into the core works a tenant will notice, not cosmetic extras. Renovation of an older dwelling may additionally qualify for Cyprus' reduced 5% VAT on renovation and repair, which stretches the grant money further — we check this per project. We define the scope so the works stay within the scheme's rules and the budget delivers a genuinely rentable result.
The grant and the tax incentive
The renovation grant ranges from €15,000 to €35,000, with the amount depending on the dwelling and the eligible works as defined in the scheme documents. In addition to the grant itself, the scheme carries a tax exemption on the rental income earned from the renovated home — so the support continues after the renovation, through the letting years, rather than ending at payout. The counterpart of both benefits is the affordable-rent commitment: the home must be let long-term at the rent level the scheme prescribes. For many owners the combination still comes out clearly ahead: the renovation is largely paid for, the property stops decaying, and it produces tax-advantaged income instead of standing empty. We run these numbers with you, per property, before you commit.
How to apply, step by step
Applications are submitted electronically on the government housing platform prositistegi.cy. First, confirm the dwelling qualifies — above all that it has been vacant for at least 12 months and meets the criteria of the implementation guide. Second, submit the owner application on the platform; the current round opened on 16 March 2026 and owner applications are accepted until 31 December 2027. Third, once approved, carry out the renovation with qualified tradespeople, keeping the documentation the scheme requires. Fourth, the renovated home is let at the affordable rent under the scheme's terms; the grant is paid according to the scheme's procedure, and the rental income benefits from the tax exemption. Deadlines, documents and rent levels are set by the official guide — which we track so your file matches the current requirements.
Deadlines
Owner applications are open from 16 March 2026 until 31 December 2027 — a long window compared with most grant schemes, which reflects the scheme's ambition to move a large stock of vacant homes back to the rental market. Even so, publicly funded housing schemes approve applications on a rolling basis, and preparing a vacant property's paperwork — ownership documents, proof of vacancy, condition assessment, quotes — takes time, especially for owners abroad. Starting early also means the renovation can be scheduled sensibly and the home can start earning rent sooner. If your dwelling has been empty for close to — but not yet — 12 months, the waiting time simply becomes part of the plan we make with you.
How Domakihub handles it end to end
Domakihub manages the entire journey — checking whether your vacant property qualifies, preparing the application on prositistegi.cy, defining a renovation scope that fits the scheme's rules, and then searching project-specifically for the right businesses for each trade instead of handing you a directory. We coordinate the works, the required documentation and the close-out so the grant is paid, and we can also organise the property's path to the rental market. This matters most for absentee and overseas owners — a very common case for vacant homes in Cyprus: you do not need to be on the island, because we run site visits, quotes and inspections and keep you updated remotely, in English, Greek or Russian. Amounts, conditions and rent rules are set by the official scheme documents and can change; we always confirm the current terms for your specific property first.
Domakihub handles it end-to-end
- 1
Free eligibility check for your property
- 2
We prepare the application + paperwork
- 3
Vetted contractors do the work
- 4
We coordinate to completion & payout
Amounts, deadlines and steps change per scheme round — we confirm exactly what applies to you.
Official scheme: https://prositistegi.cy/
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