Continuing efforts to address the housing problem, Prime Minister Kyriakos Mitsotakis again prioritizes interventions that can increase the housing supply. The government is preparing another support tool, a renovation program for old and closed apartments, which foresees direct subsidies up to 80%, with a possible increase to 90% for specific categories.

The €500 million program is expected to start in February next year and aims to return a significant portion of about 750,000 closed properties nationwide to the market. It is estimated that about 20,000 owners will initially benefit, while for the first time not only closed but also open properties currently used as primary residences can be included, with expanded income criteria compared to previous actions.

Incentives to activate closed homes

The goal is for homes to be renovated and then either inhabited by their owners or rented out for at least five years, thus boosting supply in the market. For open properties, the program seeks to upgrade the overall housing stock so that older houses gain new prospects.

The subsidy will be calculated per square meter, up to €300/sqm, and can reach a maximum of €36,000 per residence.

Energy upgrade and types of interventions

According to information, the scheme will include a subsidy of 80%–90%, covering up to €300/sqm, emphasizing renovation works as well as mild energy interventions. It mandates an upgrade of at least one energy class, with indicative interventions such as new frames, heating systems, solar water heaters, roof insulation, or awnings.
The program also covers plumbing and electrical works, installation of new tiles, floor changes, as well as kitchen and bathroom renovations.

The subsidy increases by 5% for mountainous and island regions and an additional 5% for families with three or more children, large families, and families with disabled members, raising the total subsidy up to 90%. Renovation expenses must account for 60%–80% of the total application cost, while energy interventions make up the remaining 20%–40%.

Conditions and limits

Eligible properties must have a building permit by December 31, 1990, and a maximum area of 120 sqm. There is no age limit for applicants, and it is allowed to submit applications for more than one property, aiming to maximize available housing.

Interventions for municipal properties

Alongside the private sector program, a regional action is promoted allowing the renovation of municipal or regional housing in island and mountainous areas. The goal is to secure affordable housing for public employees—from teachers to doctors and police officers—who often find it impossible to relocate to remote areas due to high rent costs.

Renovated properties will be leased long-term to municipalities, which will then allocate them to public servants where needed.

The program is funded by the NSRF (National Strategic Reference Framework) and at the European level, housing remains a common challenge, with Athens experiencing the problem intensely due to a decade-long crisis and a collapse in construction activity.