Three are expected to enter orbit from 2025 and concern over 50,000 households, who either wish to acquire her own home, or upgrade and renovate their proprietary residence, or even renovate it so that they later rent it, according to ertnews. In particular, the first programme is the programme without income criteria, amounting to EUR 400 million. This is an innovative programme, the “Upgrade-Renovation”, which refers to all natural persons-owners of residence, without income, age or assets criteria. According to Social Cohesion and Family Minister Sophia Zachaki, through funding from the Recovery Fund, of 300m euros and banks of 100m euros, housing owners will be able to receive an interest-free loan of up to 25,000 euros, which they will be able to repay in 3 to 7 years, without any income criterion. Beneficiaries of the programme may proceed to any energy upgrade costs such as frames, cooling-heating systems, etc. New “Renovate – Rent” Another programme will be launched in the same month, the old ‘Renovation-Rent’, but with new improved conditions already laid down in a relevant provision contained in the tax bill. With this programme, the owners of buildings that remain closed can be subsidised for repair and renovation costs up to 13,500 euros, including the required materials and work. The subsidy amounts to 60% of the costs incurred and is granted under the following conditions, which must be cumulative: the invoices concerned are paid electronically, after the renovation they proceed to rent the property for at least three years. Expenditure may include work on renovation of bathrooms, kitchens, replacement of entrance door and interior doors, replacement of floors, replacement or repair of electrical and hydraulic installations, components, coatings, tiles, paints and other similar operations. It is underlined that the property of a total area of up to 100 sq.m. should not be declared as a first residence or as a rented property. It must be declared as a gap in form E2 accompanying the income tax declaration for the last 3 years. My House 2 The third programme is the long-awaited ‘My House II’, totalling EUR 2 billion. It is expected to run in the first months of 2025, as the Commission approved its funding and new terms. The age limit for participation is now 50 years and the value of the property in the contract will reach 250,000 euros. However, the interest rate subsidy falls to 50% for individuals or couples and 75% for tridecins. According to Mrs Zachaki, the ministerial decision with all the details will be adopted immediately after the passage of the relevant provision, which is also in the tax draft law. The income limit for beneficiaries will be up to 20,000 euros for the unmarried, 28,000 euros for couples and a premium of 4,000 euros per child will be provided. For the single parent, the income limit is increased to 31,000 euros and 5,000 euros per child. Interested persons should be aware that they should not have a privately owned residence, while the property they wish to buy should have a construction permit until 2007 and be up to 150 sq.m.
Housing: Three new 2025 programs for 50,000 households
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