My House II: Exciting Opening Dates Unveiled!

The program is financed by the Recovery Fund with 1.3 billion euros from the loan component, to which 1.1 billion bank funds will be added, bringing the total financing of the new program to 2.14 billion euros.

Features

The loan that each beneficiary will be able to get will reach 190,000 euros. The final interest rate of the loan will be established after the Development Bank’s consultation with the commercial banks. The responsible Deputy Minister of National Economy and Finance, Nikos Papathanasis, estimated that the average interest rate for the entire loan will be below 2%. In “My House II” there is special care for families with many children, for whom loans from the program will be completely interest-free.

With the loans of “My House II” it will be possible to buy houses up to 150 square meters, built up to 2007. The maximum amount of the loan will reach 190,000 euros and will cover 90% for a contract price with a duration of 3 up to 30 years. The value of the property should be up to 250,000 euros. The deputy finance minister noted that before finalizing the amount of the program there was a difficult negotiation with Brussels, which believed that the specific program could increase demand for real estate, sending prices to higher levels. Ultimately, however, they were convinced that it would cover needs and accepted the mini-revision, approving the use of 1.3 billion euros of Greece’s loans from the Recovery Fund.

The criteria

In the second continuation of the “My Home” program, from which 10,000 families have already benefited, the expansion of the age and income criteria was instituted. Specifically, beneficiaries will be family members from 25 to 50 years old.

As far as the income criteria are concerned, they are formulated as follows:

* Up to 20,000 euros for singles

* Up to 28,000 euros for couples and an additional 4,000 euros for each child

* In single-parent families the limit is 30,000 euros and increases by 5,000 euros for each child

With the completion of the “My Home II” program, the beneficiaries of this initiative will reach 30,000.

From January: €400 million housing upgrade program

In January, the “I upgrade my house” program will be opened, which has a total budget of 400 million euros, of which 300 million euros will be allocated from the Recovery Fund and 100 million euros from the banks.

The program will offer approximately 20,000 beneficiaries interest-free loans of up to 25,000 euros to upgrade their residence, regardless of whether it is primary or secondary. In relation to “Save”, the specific program will be simpler, since partial improvements can be made through the loan (only frames, only insulation or only air conditioners) and the owner will not have the obligation to upgrade two energy classes, as in the “Save” program.

“Renovate and Rent” with a subsidy of 8,000 euros

In parallel with the new “My Home” program, the Ministry of Social Cohesion is proceeding with the implementation of new housing policy measures.

In the “Renovate and Rent” program, as announced by the Minister of Social Cohesion and Family, Sofia Zaharakis, the subsidy is doubled from 4,000 euros to 8,000 euros.

It is envisaged from 2025 that 2,500 houses will be built and made available to low-wage workers with a very low rent and a right to buy in the future. The houses will be built on DYPA plots.

For the vulnerable

For 700 vulnerable households from 60 municipalities, the possibility of free accommodation is provided through the “Housing and Work” program. It concerns young people aged 25-39, who are included in the beneficiaries of the minimum guaranteed income.

The ministry is also promoting a new initiative, the so-called social housing, which aims to address the housing problem of special categories, such as doctors, teachers and soldiers on the islands. In a survey carried out on 31 islands, it was found that the housing needs concern 3,086 people from these special categories.

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