At the end of May with early June it is expected to open the new, expanded programme «Renovate – Rent», however, the problem with closed properties is difficult to «solved» according to market people, as the cost of renovation is often prohibitive.
The new scheme will cover real estate up to 120 square meters and provide a subsidy that can reach up to 95% of the 36,000 euros that justifies the program, depending on the household category.
In fact, for some groups, such as single-parent families, young couples, three-year-olds, many children and disabled households, the subsidy will be increased.
In particular, for specific categories, such as three-year-olds, many children and people with disabilities, the subsidy can reach up to 95%, which is also the ceiling for funding.
- The aid corresponds to up to EUR 300 per square metre, with income criteria providing for a limit of EUR 25,000 for single persons and EUR 35,000 for couples, increased by EUR 5,000 per child.
It is worth noting that at least 20 years of property can be included in the programme, which has been closed for at least three years.
At the same time, it will also be possible to intervene in older homes where families already reside, if they are considered unsustainable in terms of habitation.
While only a small part of the total amount will be required to be allocated for energy upgrading, most of the piece will be used for basic renovation interventions, such as kitchen, bathroom and other restoration work.
What are the problems?
- Low Interest
According to the 2021 census, the country has 2,277,615 vacant dwellings, which corresponds to 35% of the total, affecting the more general housing problem.
These houses include cottages and secondary homes, while a large part of them are located in the province.
Moreover, many of the vacant homes are not directly residential, while others may be far from jobs and services, i.e. from where people want to live.
- Increase in building costs
According to ELSTAT data, building materials increase by 2.5% last year (Feb. 2025 – Feb. 2026), as the purchase of real estate and construction in Greece faces strong inflationary pressures.
In fact, the valuations are continuous, with particular pressure on basic materials and energy.
The promotion of growth gives both international developments and the great interest in certain tasks under the subsidised housing policy programmes.
Construction costs per constructed square metre have risen significantly, touching in many cases 1,900 euros.
Insulations and related materials record very high increases, which in some cases approach or exceed 20%, significantly burdening the project budget, according to Tasos Zacharopoulos, a civil engineer and a manufacturer.
In any case, the owners of closed properties will initially be asked to apply for the eligibility certificate through gov.gr, and then, if approved, they will be able to proceed to the next stage.
