The governmental interventions announced by the Prime Minister within the framework of the Thessaloniki International Fair (TIF) to address the housing problem were specified today by the Minister of Social Cohesion and Family, Sophia Zacharaki, during a press conference attended by the Deputy Minister of National Economy and Finance, Nikos Papathanasis. The conference was also attended by the Deputy Minister to the Prime Minister and Government Spokesperson, Pavlos Marinakis.
The new housing policy includes a package of initiatives such as the “MY HOME II” program and loans for energy upgrades of homes through the “Upgrading My Home” program.
For the “Upgrading My Home” program, there are no income criteria, and a priority system will be observed for eligible beneficiaries.
“My Home 2”: The criteria for beneficiaries
- Applicants must be between 25 and 50 years old
- For single individuals, the income limit will be up to 20,000 euros
- For couples, the income limit will be up to 28,000 euros + 4,000 euros for each child
- For single-parent families, the income limit is set at up to 31,000 euros + 5,000 euros for each child
“My Home 2”: Terms and Loans
- 50% of the loan will be granted from the Recovery Fund, while the other 50% will be given at a low average interest rate. For families with three or more children, 75% will be provided from the Recovery Fund, and 25% will be at an interest rate.
- The loan will amount to up to 190,000 euros and will cover contracts up to 250,000 euros. The property must be up to 150 square meters and constructed up to 2007.
- The loan duration will range from 3 to 30 years.
- In response to a question about where the average interest rate would stand, Mr. Papathanasis noted that it would be below 2%.
“Upgrading My Home”: Details of the Program
Subsequently, the “Upgrading My Home” program was presented, which is a low-interest loan program for energy upgrades aimed at encouraging homeowners to undertake renovations of old apartments with resources from the loan section of the Recovery Fund.
- The loan amount will reach up to 25,000 euros, with a duration ranging from 3 to 7 years, covering expenses for a range of works as shown in the diagram below.
- The loan applies to all residences (main or secondary).
- There are no income criteria, and a priority system will be followed for eligible beneficiaries. The platform will open in January 2025.