NewsLocalTEPAK’s 2023 budget provides €2 million for additional student housing

TEPAK’s 2023 budget provides €2 million for additional student housing

One of the biggest problems Limassol-based Cyprus University of Technology is confronted with today is a shortage in student housing exacerbated by the coastal city’s very high rentals, according to Rector Panayiotis Zafiris.

Presenting the academic institution’s 2023 budget before the House Education Committee on Wednesday, Zafiris also said that construction plans for additional dormitories with a provision of €2 million are included.

And that the new student accommodation will add up to the 200 beds of the dormitories funded by the Cyprus Archbishopric.

As for prevailing rental prices in Limassol, he said that these range from €600 to €800 per month. At the same time, the ongoing scheme of renting hotel rooms for students serves about 20 of them while that of accommodate students in families serves about 20 to 25.

On the overall philosophy behind the drafting of the budget, he said TEPAK has complied with proposals by the Ministries of Finance and that of Education for a horizontal reduction of all funds.

This amounts to 15% but Zafiris has expressed belief that a supplementary budget will be needed.

The Rector described 2022 as a remarkable year due to the establishment of a new school of tourism, hospitality and entrepreneurship in Paphos.

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