Housing: Two New Affordable Housing Programs Launch Soon

Two major government housing initiatives are nearing final implementation to address the housing crisis, aiming to boost affordable housing supply in the market within the coming months. The first is the new ‘Renovate – Rent’ program, with a total budget of €400 million, set to launch in May. It will subsidize energy-efficient renovations of vacant properties intended for affordable rental, as well as upgrades of owner-occupied homes. The majority of funding will target rental units, while a portion supports owner-occupancy. A mandatory share of financing must be allocated specifically to energy upgrades, with the remainder covering broader renovation needs. Income eligibility criteria will mirror those of the expanded ‘My Home II’ program—€25,000 for singles (aged 25–50), €35,000 for couples (+€5,000 per child), and up to €39,000 for single-parent families (+€5,000 per additional child). The second program involves private developers constructing residential units on public land acquired via competitive tender under the Social Counterpart policy. Developers must allocate 30% of new units for long-term, low-cost rentals; the rest may be sold freely. This initiative is scheduled to begin this summer.