The program entitled “Renovate – Rent” concerns renovations and repairs, in approximately 12,500 empty houses with the aim of making them available for long-term leases, providing a subsidy of 40% to the beneficiaries of the program.
The program entitled “Renovate – Rent” concerns renovations and repairs, in approximately 12,500 empty houses with the aim of making them available for long-term leases, providing a subsidy of 40% to the beneficiaries of the program.
Key points of the program:
According to the statement of the Minister of Social Cohesion and Family, Sofia Zaharakis, the launch of this program aims to:
“Quality yet affordable housing is what thousands of young people, couples and families are looking for. One of the main reasons for the increase in rents is the fact that tens of thousands of houses and apartments remain closed because they are old and their owners do not have the ability to make them functional. We are coming to subsidize these renovations and add another “weapon” to our housing policy and to the battle to reduce rent prices.”
Natural persons, owners or beneficiaries of real estate with residential use, for one (1) real estate with residential use, can be included in the program, as long as the following five (5) conditions are met:
a) The Beneficiaries have full ownership or usufruct of the property in a percentage equal to or greater than 50%.
b) The property (apartment or detached house) has an area of main areas up to 100 sq.m. and is located in a residential area (within a general urban plan or within an approved landscape plan or within settlement boundaries or within a settlement zone where special building conditions exist).
c) The Beneficiaries have an annual family taxable income, real or presumed, that does not exceed €40,000 and have real estate, the total value of which does not exceed the amount of €300,000. Annual family income means the total annual taxable, real or presumed, as well as the exempt or taxed in a special way income of spouses or cohabiting partners and protected children.
d) The property has not been declared as a first residence, has not been declared as rented and is declared as empty on the E2 form accompanying the income tax return of the last 3 years.
e) Beneficiaries have not received a subsidy for an energy saving or renovation program in their property in the last 5 years and have not joined subsidized energy saving programs for any of their properties, i.e. from 1.1.2019 onwards.
Indicative expenses may include work on:
– Renovation of bathroom, kitchen, replacement of entrance door and internal doors,
– Replacement of floors,
– Replacement or repair of electrical and plumbing installations, structural elements, coatings, tiles, coloring and other similar works
Also provided are the costs for purchasing the necessary materials, costs for any required IKA insurance contributions for the works and engineer costs for any issuance of permits, approvals or preparation of studies.
The subsidy rate of the specific program reaches 40%, with a maximum budget of €10,000.
Submissions have started from 11/04/2024 until the total budget is exhausted.
If you are interested in the program, fill in the form on the right with your details and your questions and a consultant will contact you, free of charge.
