Property owners who want to renovate idle properties for use on the housing markets have until Monday to declare their properties eligible for subsidies.
The government, concerned with the housing shortage, had budgeted up to €500 million for the subsidies, which may reach up to €36,000 per property plus an additional €2,500 for engineer fees and permits. Officials estimate they will receive up to 11,000 applications by the August 31 deadline.
Selection will start September 1. Ideally, the renovated homes will be rented long-term and will not enter the now restricted short-term rental market.
