Starting February 21, 2025, the application platform for the “Renovate – Rent” program will reopen, featuring significant improvements and an increased subsidy. According to the Minister of Social Cohesion and Family, Sofia Zacharaki, the program is being enhanced with a subsidy increase to 60%, covering up to €8,100 for renovation work and expenses, which can total up to €13,500.

The €50 million budget program is aimed at property owners or usufructuaries who meet specific criteria, with the goal of facilitating the renovation and rental of properties.

Eligible applicants must hold at least 50% ownership or usufruct rights, have properties of up to 100 sq.m. in residential areas, an annual income of up to €40,000, and a total real estate portfolio not exceeding €300,000.

A key requirement is that the property must have been declared as vacant in form E2 for the past three years and must not have been declared as a primary residence or rented out.

Significant changes make the program more attractive, as both the subsidy amount and the eligible expenses have increased.

New categories of renovation work and materials have been added, while the previous exclusion for those who received an energy upgrade subsidy in the past five years has been lifted. Additionally, the favorable adjustments have retroactive effect for those already enrolled in the program.

Applications are submitted online via the dedicated platform, with the program being managed by DYPA. Those already included in the program can apply for the recognition of new or previously incurred expenses, provided the total amount does not exceed €13,500.

Upon submission, a payment decision is issued, or an updated approval if a previous approval has already been granted. So far, 1,210 applications have been approved, with a total disbursement of €2.3 million.