Greece is preparing to launch a new housing program aimed at boosting the supply of available homes by subsidizing extensive residential renovations, as authorities seek to bring thousands of vacant properties back into the market.
The scheme, expected to be unveiled shortly and begin in June, will support broader refurbishment works rather than focusing mainly on energy upgrades, marking a shift from previous housing initiatives.
Officials say the goal is to ease Greece’s housing shortage by increasing the number of homes available for rent or sale.
With a budget of around €500 million, the program will provide generous subsidies that could cover up to 90%-95% of renovation costs. Base support will reach up to €36,000 per property, with additional funding of €5,000 per child in a household. Eligible homes must be up to 120 square meters, with a maximum subsidy of €300 per square meter.
The rollout will take place in two stages, beginning in June with eligibility checks for properties, followed by applications in September. Priority will be given to long-term vacant homes before occupied residences.
