Interest-free home loan for the purchase and renovation of a house

In a few months, interest-free loans will begin for those who are interested in either buying or renovating their first home.

Those couples who are interested can count on a subsidy from the fall, which the state is ready to provide. Funding extends beyond those on minimum guaranteed income (Ελάχιστο Εγγυημένο Εισόδημα).

The authorities intend to create a real estate fund that could be provided to young workers and the unemployed so that they gradually, over the years, acquire their own housing, reports

New housing program budget is 1.5 billion euros, and Kyriakos Mitsotakis is expected to make relevant statements in the next few days. At the moment ΔΥΠΑ (former ΟΑΕΔ) has at its disposal a total of 170 properties, most of which are in need of reconstruction for their use.

The goal is to proceed with the construction of social housing, renovation or renovation of existing real estate to transfer housing stock through a system of interest-free loans or minimum rent (as if by a gradual buyout of housing).

The goal of the program is to provide cheap housing for young workers of all categories. The plan is partly based on the subsidized programs of the old OEK.

The philosophy is similar to housing programs in other European countries (Spain, Portugal, etc.), where young couples have many alternatives for obtaining housing on favorable terms.

According to the Greek government housing program, the main options for getting cheap housing for young couples are:

  • Subsidized mortgage interest rate.
  • Interest rate subsidy for the renovation of the first house.
  • Rental subsidy (based on income and social criteria). The provision of housing as a student hostel is being considered.
  • Long-term rental and purchase of a house with a subsequent discount equal to the rent paid (rent to own).
  • Construction of residential complexes with 50% partnership ΔΥΠΑ (ΟΑΕΔ).

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