The Deputy Minister of National Economy and Finance, Mr. Nikos Papathanasis, referred to the new data that will apply to the “Home for Me 2” program on the morning of Monday, August 26, in anticipation of the official announcements that Prime Minister Kyriakos Mitsotakis will make from the podium of the Thessaloniki International Fair (DETH).
However, as he pointed out, it is a program that is still under negotiation and not all parameters have been finalized.
Some of the changes we will see compared to the first round of the housing program include an increase in the age limit to 50 years and an annual income limit of 20,000 euros, up from 16,000 previously.
This is the program that allows the purchase of properties with a 50% lower borrowing interest rate, with provisions for a zero interest rate and full state coverage of loans for large families and families with three children.
It is worth noting that according to the Deputy Minister, the scenario for the inclusion of properties younger than 15 years does not apply. As he stated, there will be no change in the age limit of the property.
The new criteria
Income criteria
An expansion to 20,000 euros is being considered, with increases depending on the number of children.
Currently, the income criterion is 16,000 euros for singles and 24,000 euros per couple, with an increase of 3,000 euros for each child.
Single-parent families had a maximum limit of 27,000 euros.
Borrowing interest rate
Approximately 50% lower interest rates than market rates. There is a provision for a zero interest rate and full state coverage of loans for large families and families with three children.
Loan terms
The loan will cover 90% of the property’s value in the second round as well. It will have a duration of up to 30 years. At the same time, the European Commission requires energy upgrades of the properties as a prerequisite.
Age criteria
The age limit is rising, and now beneficiaries will be eligible up to 49-50 years old. It should be noted that in the first round, those aged 25 to 39 years were covered.
It is worth mentioning that according to the government planning, applications are expected to start in the autumn; however, more details will be announced during the Thessaloniki International Fair in early September (September 7).
The program is expected to be financed with a total of 2 billion euros, of which 1 billion euros will come from the European Union’s Recovery and Resilience Facility, while the other 1 billion euros will be provided by Greek banks.