New subsidy scheme seeks to bring vacant homes back onto the market
Greece is preparing to launch a new housing scheme designed to increase the supply of available homes by subsidising extensive residential renovations, as the government looks to bring thousands of vacant properties back onto the market.
New home renovation scheme to offer higher subsidies and cover more beneficiaries
The new «Renovate» programme is expected to have a total budget of around €500 million and to provide significantly higher cost coverage than previous schemes
Second chance to reclaim their home for those who lost it to banks and servicers
According to the model promoted by K. Pierrakakis, the new real estate agency will purchase the residence before or even after auction and lease it back to the debtor for up to 12 years, with state rent subsidy and a right of repurchase – It will concern at least 20,000 “red” debtors
