The most immediate measure concerns the increase of the housing allowance for students from €1,000 to €1,500 and to €2,000 in cases of cohabitation in order to ease the “competition” for smaller houses.
By Chrysostomos Tsoufis
The end of 2004 found Greece with a home ownership rate of 84.6%, 20 points higher than the European average. 16 years and 3 memoranda later – as the latest official figures are for 2020 – h home ownership in our country it had fallen by 10 units and it is almost certain that with the general increase in costs the percentage will be even lower today. In the same period the Community average increased by 5 points.
With a network of measures amounting to €1.8 billion that will be implemented gradually and will be specified in a few hours by the leaderships of the Ministries of State, Labour, Energy, Education as well as the DYPA (formerly OAED), the government is trying to facilitate mainly young people to solve the roof problem.
The most immediate measure concerns its increase housing allowance for students from €1,000 to €1,500 and €2,000 in cases of cohabitation in order to ease the “competition” for smaller houses.
In addition, the construction of 8,150 new places through PPP was announced in Student residence of the universities of Western Attica, Crete, Thessaly, Western Macedonia and Thrace.
From December, the ESTIA 2 program starts, which foresees that the State will in the first phase lease approximately 1,000 private properties and then sublet them with low rent and fast procedures to vulnerable households.
From the beginning of 2023, a special loan program of €500 million will be implemented (€325 million from the state and €125 million from the banks) aimed at citizens up to 39 years of age and according to information from skai.gr will include the same income criteria as those applicable to heating oil. That is, €16,000 for the unmarried and €24,000 for the married plus €3,000/child. The money will be distributed to around 10,000 beneficiaries at almost zero interest for the purchase of a first home in areas with mainly old buildings. According to the example given by the prime minister, with minimal participation, a couple will receive a mortgage loan of €100,000 with an installment of €275, much lower than what they would pay for rent. Once the €500 million is used up, another amount will be made available.
A special program will be created “Save and Renovate” with beneficiaries of 20,000 young people who will be given up to €20,000 for energy interventions in their property and an additional €3,000 additional support together with a low-interest loan of up to €7,000.
At the same time, at least 10,000 owners of closed properties will receive up to €10,000 in subsidies to renovate them and put them on the market and with the obligation to rent them on long-term leases.
A “Social Compensation” program will be run for public plots and properties. The State will offer its property to private developers who will undertake at their own expense to build houses and the obligation to rent half of them to new tenants at low rents. The other half will be able to use them commercially.
In order to reduce the “competition” with foreign funds in the real estate market and thus to increase the available houses for Greek citizens, the investment limit for the granting of a Golden Visa license will be doubled to €500,000.
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I have worked in the news industry for over 10 years and have been an author at News Bulletin 247 for the past 5 years. I mostly cover technology news and enjoy writing about the latest gadgets and devices. I am also a huge fan of music and enjoy attending live concerts whenever possible.
