Mitsotakis: everyone at home

Prime Minister Kyriakos Mitsotakis at the 86th ΔΕΘ conference announced a €1.8 billion housing program for young people and couples, with a total of 100,000 beneficiaries.

The program is for young people who want to buy or rent a cheaper home. These activities will begin as early as October, and those that require new buildings will obviously be developed gradually.

In particular, it starts special loan program, initially amounting to 500 million euros, with co-financing of 375 million from the state and 125 million from banks. Her goal provide a very low, almost zero interest rate on the purchase of a first home by thousands of our fellow citizens under the age of 39.

In practice, a couple with a minimum participation will buy a house worth 100,000 euros with a monthly payment of 275 euros. The amount, that is, much less than the rent they would have to pay.

A target program “Εξοικονομώ και Ανακαινίζω” is also being created for 20,000 young people. Each beneficiary will receive up to 20,000 euros for the energy renovation of their own housing, as well as an additional support of 3,000 euros and a low interest loan of up to 7,000 euros.

Benefits will affect at least 10,000 owners of closed facilities (κλειστών ακινήτων), a state subsidy of up to 10,000 euros for their renovation. However, with the obligation to rent them out for a long-term lease. Thus, the state covers up to 40% of the cost of repairing each closed apartment.

Public land and buildings are also subject to “social accounting”: the state will give its idle assets to private developers, and they will build modern housing on the site. Half will be rented out at a low cost new interested persons, and the remaining areas will be used for commercial purposes.

From December, the program “Estia 2” (“Εστία 2”) starts. In accordance with this, the state will lease 1000 private objects at the first stage. To make them available to vulnerable households through express procedures and very low rents.
The government’s housing policy to support young couples will be implemented by ΔΥΠΑ using a reserve in excess of 1.5 billion euros.

At the same time, ΔΥΠΑ will strive to create a register of real estate that could be made available to young workers and the unemployed at low rents so that they could gradually acquire their own property over the years (lease-to-own).

This is a lease agreement under which you rent a house for a certain period of time with the option to buy before the end of the lease term. Lease agreements consist of two parts: the first part concerns the standard lease agreement, and the second part concerns the purchase of real estate.

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