Closed houses: 0% tax for 3 years for those who open them, put them in order and operate them

Greek Prime Minister Kyriakos Mitsotakis will present a new package of measures to address the housing crisis at the Thessaloniki International Fair (88 ΔΕΘ). What support measures will be considered?

According to the publication “OT”, one of the main solutions is to stimulate the supply of real estate. In particular, in terms of what concerns landlords – further tax reduction (for those whose properties have been idle for years, closed, mainly because the owners do not have the funds for repairs). And secondly, to encourage those who rent out properties for short terms to rent out housing on a permanent, long-term basis.

The government accepted the proposal TOMATOwhich provides for a 100% tax exemption if the income comes from new rental housing leased for a period of at least three years.

In particular, it is considered a three-year tax exemption on rental income for owners who rent out their empty properties or those they have on short-term lease.

In essence, the government is adopting the previously made POMIDA proposal, which provides for a 100% tax exemption if the income comes from a new rental of a dwelling let for at least three years, provided the dwelling is rented to individuals for use as their primary residence and has been vacant for at least 2023 or was in short-term rental under the AMA program as of 31/12/2023.

The government has two more tools in its “arsenal” to increase the number of properties on the market. The Renovation-Rent program will be relaunched from increasing the subsidy to 60% from the current 40%. In the program Homeowners with an annual income of up to €40,000 and property worth up to €300,000 can participatewhile those who have joined energy saving or renovation programs for any of their properties in the last five years, excluded.

The property must be up to 100 sq.m. in area and located in an urban area, but must not be declared as a first place of residence and listed on E2's tax return as “vacant premises” for the last three years.

Participants in the programme receive subsidies for repair and reconstruction costs of up to 10,000 euros.

By the end of 2024, the social compensation program. The goal of the program is to build 2,500 social houses for 5,000 beneficiaries.

The first ten plots of land DYPAas OT writes, are already ready for use so that the first social housing can be built there. These are plots both in Athens and in the outskirts, in Xanthi, Larissa.

The concession for the undeveloped site will be transferred to DYPA and the contractor will be selected through a tender.

DYPA will provide an undeveloped site for which a contractor will be selected following a tender.which undertakes to build modern residential and commercial buildings in accordance with the specifications specified in the notification.

Changes are planned in the program “My House 2”, including in financing. The new plan to combat the housing crisis, which will begin in January 2025, will provide – compared to the original – extended age limits for beneficiaries (up to 50 years), as well as expanded income criteria up to 40,000 euros.

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