The New 'Spiti Mou 3' Program: Expanded Criteria and Post-2007 Properties

The government's new housing program, titled 'Spiti Mou 3,' is currently in the design phase and is expected to be one of the key measures announced at the ΔΕΘ (Thessaloniki International Fair) in early September. The Ministry of Social Cohesion and Family aims to respond to the increased interest from young couples in acquiring privately owned housing, while simultaneously examining alternative scenarios for the continuation of its housing policy.

Expanded Income Criteria

One of the most significant changes being considered for 'Spiti Mou 3' is the expansion of income criteria to allow more potential beneficiaries, who were previously excluded, to apply. According to reports, an increase in the base income limit of €5,000 to €10,000 across all categories is under review.

Indicatively, if a €10,000 increase is approved, the program for acquiring a home with a subsidized interest rate will now be available to individuals with an annual income of up to €35,000, as well as couples up to 50 years old with a family income reaching €45,000. Above these limits, the standard increase based on the number of dependent children in the family will continue to apply.

Inclusion of Newer Properties

An equally critical innovation of the new cycle is the planned inclusion of 'new generation' properties. In previous programs ('Spiti Mou 1' and '2'), beneficiaries were restricted to purchasing homes with construction permits issued exclusively up to December 31, 2007.

This strict restriction resulted in the paradoxical phenomenon of a sharp price increase for older properties (some even 45 years old), as demand was concentrated there. With 'Spiti Mou 3,' the inclusion of newer homes—which remain unsold due to the economic crisis and significant price hikes—is being considered.

The Progress of 'Spiti Mou 2' and the Expiration of the Recovery Fund

Planning for the next phase accelerated due to developments in the current 'Spiti Mou 2' program. It is recalled that an early termination of applications was decided for May 31, while an extension was granted until August 31, 2026, for those with pre-approval to finalize their loan contracts.

The reason behind this acceleration is the impending expiration of the Ταμείο Ανάκαμψης (Recovery and Resilience Facility - RRF) this coming autumn, which serves as the primary funding source for home acquisitions via bank lending. The total budget of the program amounts to €2 billion ($2.18 billion), with absorption already reaching 88%, leaving a balance of approximately €300 million ($327 million). Delays in approval and signing procedures posed a risk of the program losing its funding, as signing new contracts worth €300 million ($327 million) by the RRF deadline appeared impossible. To avoid this, the government decided to focus exclusively on funding applications that have already been pre-approved by the Ελληνική Αναπτυξιακή Τράπεζα (Hellenic Development Bank).