The government is launching four new programs to address the housing crisis, with a total cost of 2.4 billion euros. The “My House II” program aims to acquire housing for 20,000 households, while a new interest-free loan program of €400 million will be available for the energy upgrade of 20,000 homes. Additionally, the “Renovate-Rent” program will offer increased subsidies of up to 60% and a maximum total spending limit of €13,330. The “Social Compensation” program, which involves the construction of homes on state properties, will also be initiated by the end of the year.
The “Renovate my Home” initiative offers interest-free loans with a 100% subsidy on bank loans for energy upgrades and renovations up to €25,000. The second phase of the “My Home” program, aimed at first-time homebuyers, is set to begin in January with an average interest rate below 2%. Minister Sofia Zacharaki announces that the “Renovate-Rent” program will be relaunched in November with enhanced conditions, including a 60% subsidy and up to €8,000 for renovations.
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