New 'Anakainizo - Noikiazo' (Renovate - Rent) Program: Up to €36,000 Subsidy to Tackle Housing Crisis

The Greek government is intensifying its efforts to address the housing crisis through the new, enhanced “Ανακαινίζω – Νοικιάζω” (Anakainizo – Noikiazo, or Renovate – Rent) program.

According to announcements by the Minister of Social Cohesion and Family (Υπουργός Κοινωνικής Συνοχής και Οικογένειας), Domna Michailidou, the program is expected to be implemented between late May and early June. The primary objective is to utilize thousands of vacant apartments and support young couples and vulnerable households.

Significant Increase in Subsidies

The program’s new framework provides for substantial increases in subsidy amounts. Specifically, financial coverage for the renovation costs of older properties can reach up to 90%, with a maximum cap of €36,000. The exact subsidy percentage will be determined based on the household category. Vulnerable and special groups—such as young couples, single-parent families, families with three children (triteknoi), families with four or more children (polyteknoi), and households with members with disabilities—will benefit from increased subsidies.

The program applies exclusively to properties with a floor area of up to 120 square meters. A mandatory requirement is that the property must be over 20 years old and must have remained vacant for at least three years. Additionally, there is a provision to include older residences currently occupied by families, provided these have been deemed unsustainable in terms of living conditions.

Flexibility in Renovation Resource Allocation

A key feature of the new program is the flexibility in cost allocation. Unlike other schemes such as 'Exoikonomo' (Greece's energy efficiency grant program), only a small portion of the subsidy is required to be spent on energy upgrades. The majority of the funds can be utilized for essential functional restoration and renovation interventions, such as kitchens, bathrooms, and other necessary structural works.

Housing at the Center of Policy

Minister Michailidou emphasized that housing is one of the most critical social issues of the current era, particularly for young people who do not own their own home. In this context, she explained that the government has implemented a broader strategic plan including a total of 43 different housing tools. The aim is both to bring vacant properties back to the market and to bolster Greece's overall available housing stock.

Clarifications on Pending Payments

During her presentation, the Minister also addressed public concerns regarding delays in payments from the previous cycle of 'Anakainizo – Noikiazo.' She explained that disbursements undergo rigorous auditing of documentation to prevent potential abuse.

As she revealed, hundreds of applications that did not meet eligibility requirements had been identified in the past. This necessitated more intensive oversight. Consequently, the Minister declined to commit to a specific timeline for the completion of payments, emphasizing that each application must be examined individually and with due diligence.