The state is planning to spend almost 1 billion euros on subsidy and interest-free financing programs for property upgrades as of early 2025. These are the funds for the ‘Neo Exoikonomo’ program, with the percentage of the subsidy starting from 50% and reaching in some cases to 100%, ‘Anavathmizo to Spiti Mou’ (home upgrading), which concerns the granting of loans for the energy upgrade of a main or secondary residence, and ‘Anakainizo-Enikiazo’ (renovate to rent). All this should improve household living conditions, cut operating costs and raise home values. Research shows renovation raises house values by 58% on average.
The platform of the improved program “I Renovate – I Rent” is expected to reopen in about two weeks’ time, with the subsidy rate increasing from 40% to 60% and the amount from 10,000 to 13,500 euros, according to sources from the Ministry of Social Cohesion and Family.
The ministry has also pointed out that there is a provision for those who had joined the original program and submitted applications when the total amount of expenditure was lower.