Greece's New Renovate Programme to Boost Housing Supply with Increased Subsidies
New home renovation scheme to offer higher subsidies and cover more beneficiaries
Protothema
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The Greek government is set to launch the new "Renovate" programme in June, aimed at revitalizing the housing market by subsidizing home renovations. With a budget of €500 million, the scheme will cover up to 95% of renovation costs for eligible homes, significantly increasing support for families with children.
- 01The "Renovate" programme has a budget of approximately €500 million.
- 02Subsidies could cover 90%-95% of renovation costs, with basic funding up to €36,000 per home.
- 03Funding increases by €5,000 for each child, allowing families with two children to receive up to €46,000.
- 04The programme will focus on homes up to 120 square metres, with a maximum funding ceiling of €300 per square metre.
- 05Implementation will occur in two phases, starting with eligibility checks in June and application submissions in September.
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The Greek government is preparing to launch a new initiative called the "Renovate" programme, aimed at increasing the housing supply by subsidizing home renovations. Set to begin in June, this programme will have a budget of around €500 million and will offer significantly higher subsidies than previous initiatives. Households may receive up to 90%-95% coverage of renovation costs, with basic funding reaching €36,000 per home, and additional funding for families with children. The programme focuses on older homes, specifically those up to 120 square metres, and will prioritize vacant properties in its initial phase. The implementation will occur in two stages: eligibility checks in June and application submissions in September. This initiative is part of a broader strategy to address the housing crisis in Greece and other European countries, although it may also increase demand and pressure on housing prices.
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The Renovate programme aims to increase the availability of homes for rent or sale, potentially easing the housing crisis in Greece.
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