The average interest rate will be around 2% for the loans that banks will disburse for the purchase of primary residences for 20,000 beneficiaries aged 25 to 50 years, under the new housing program of the government “My Home 2”.
For families with three or more children, the interest rate will be zero.
The funding for the program amounts to 2 billion euros, of which 1 billion euros will be provided by the Recovery Fund and the other 1 billion euros from bank loans.
The new program, along with other measures to address the housing problem, was presented by the Minister of Social Cohesion S. Zacharaki and the Deputy Minister of National Economy D. Papathanasopoulos.
It is noted that the “My Home 2” program targets couples aged 25 to 50 years, with the following income limits:
– Up to 20,000 euros for singles
– Up to 28,000 euros for couples + 4,000/euro per child
– Up to 31,000 euros for single-parent families + 5,000/euro per child.
The program concerns properties:
– Up to 250,000 euros in contract value
– Up to 150 sq.m.
– Built up to 2007
Overall, the government’s housing policy includes housing restoration for special categories such as doctors, teachers, and military personnel on islands where finding housing is difficult, social exchange with public land where 2,500 houses will be constructed for rental to low-income workers, as well as the upgraded program “Renovate and Rent” in which the subsidy increases up to 8,000 euros.