Greece’s government is launching an expanded version of its Anakainizo (‘I Renovate’) housing renovation programme — expected to be officially unveiled imminently and to begin operations by June. Unlike previous iterations focused primarily on energy efficiency upgrades, the new scheme broadens its scope to cover comprehensive residential renovations, aiming to bring thousands of currently vacant homes back onto the market for rent or sale.
A Strategic Response to Housing Shortages
The initiative forms part of a broader national strategy to increase housing supply — a measure cited by the Athens News Agency (ANA) as the most effective tool for tackling Greece’s acute housing shortage, a challenge shared by many European countries.
Key Features of the New Programme
The revamped Anakainizo is backed by a total budget of €500 million. It significantly raises financial support for eligible homeowners, with subsidies covering up to 90–95% of renovation costs. The base grant stands at €36,000 per dwelling, with an additional €5,000 added for each child in the household — meaning families with two children could receive up to €46,000.
Eligible properties must be older residential units of up to 120 square metres. Funding is capped at €300 per square metre.
The programme also introduces higher income thresholds for eligibility, widening access to more households.
Two-Phase Rollout
The rollout will occur in two stages:
Phase One (starting in June): A preliminary screening process to identify properties meeting eligibility criteria. Priority will be given to vacant homes first, followed by occupied dwellings.
Phase Two (expected to begin in September): Property owners whose homes pass the initial assessment will submit formal applications for participation.
Renovation Over Efficiency
Unlike earlier versions, this iteration places greater emphasis on general renovation works — such as structural repairs, plumbing, electrical systems, and interior upgrades — rather than exclusively on energy performance improvements. Approximately 80% of funded interventions are expected to fall under renovation, while only about 20% will relate to energy upgrades. The core objective remains clear: rapidly expanding the stock of habitable, market-ready housing units.