House Program 2: 4356 Citizens Receive €520 Million Loans for First Home Purchases

The implementation of the House Program 2, funded by the Recovery and Resilience Fund, continues at an impressive pace. Within the first 2.5 months, there are already 4356 active applications worth €520 million, which represents 26% of the program’s total budget of €2 billion. This means that eligible individuals have been pre-approved by a banking institution, found suitable housing according to program criteria, and had their applications processed by the Greek Development Bank. During the same timeframe, the original House Program 1 saw only 3381 loans approved. Notably, 45% of the approved loans under House Program 2 are for beneficiaries aged up to 37 years, 60% are for married couples, and 58% are for individuals with incomes between €12,000 and €24,000 annually. Additionally, 440 loans include extra interest subsidies for large families. The program covers all regions of Greece, with significant allocations in Central Macedonia, Eastern Macedonia & Thrace, Thessaly, Western Greece, Epirus, Peloponnese, Western Macedonia, Sterea Ellada, Crete, South Aegean, Ionian Islands, North Aegean, and Attica. Key statistics show an average loan amount of €119,000, with homes averaging €157,000 in value, built around 1983, and measuring approximately 89 square meters. Compared to House Program 1, the budget for House Program 2 has doubled, age eligibility has expanded from 39 to 50 years, and income thresholds have increased significantly. Special provisions exist for larger families, including a 75% subsidy rate for third and subsequent children. For the first time, digital applications via gov.gr streamline the process, allowing over 158,000 citizens to check their eligibility instantly. The program is part of the government’s broader €6.5 billion initiative to address the housing crisis, aiming to boost both demand and supply through social contributions and public property utilization.