The actions of the Ministry of National Economy and Finance that will be implemented in 2024 for real estate were presented by Minister Kostis Hatzidakis speaking today at the 41st Panhellenic Conference of Real Estate Owners.

Mr. Hatzidakis underlined that the goals of the government policy in this particular area are the balance in the housing market with an increase in the available properties for rent, especially for young people who face the biggest housing problem, the respect of the rights of the owners and the support of the constructions.

In this context, in 2024 the following will be implemented:

  1. From 1.1.2024, an additional reduction of ENFIA by 10% applies for residences insured for natural disasters. In the next period, the decision will be issued in order for it to start working at www.aade.gr a ​​new digital platform where the details of active property insurance policies will be located. Taxpayers will log into the platform to confirm details of their insured properties, for which a reduced 2024 ENFIA will be calculated.
  2. From 2024, the increase in the tax exemption for costs of energy, functional and aesthetic upgrading of buildings (from 40% to 100%), which is included in the recent tax reform but also for the purchase of goods with a maximum expenditure of 16,000 euros in 5 years.
  3. It starts soon “Renovate – Rent” program which aims to increase the number of homes available for rent through the utilization of vacant private homes, which will be rented for at least 3 years. The program subsidizes the cost of the renovation by 40% and up to the amount of €10,000. The goal through this program is to put 12,500 additional private homes on the market. “In this context, I want to note that we will study the proposal of POMIDA in relation to the houses that remain vacant/unleased. It is something we have discussed in the ministry. It is a proposition that cannot be easily dismissed. I have given instructions to the competent services of the Ministry to carry out the relevant studies, so that we can also see, based on ELSTAT’s data, the real number of properties and based on these data, we can do a cost-benefit analysis. In order to be sure of the control and crossings we will do, both the actual number of empty apartments and for all the other parameters. So that the decision we will make is based on more data”, said Mr. Hatzidakis.
  4. It is extended for one more year – that is, until the end of 2025 – h suspension of VAT on new buildings“because above all we consider that the lack of housing is primarily dealt with by the production of housing”, noted Mr. Hatzidakis.
  5. Finally, in relation to Golden Visa the minister indicated that he would apply measures to limit itthe limits will be increased to make more substantial investments but there will be one exception for listed properties for which a lower minimum threshold will apply “in order to direct funds to a property class, which particularly needs them”.

Mr. Hatzidakis recalled the actions for the housing policy implemented by the government, such as the reduction of ENFIA by 35% from 2019, the abolition of the tax on parental benefits-donations up to 800 thousand euros, the doubling of the investment limit for the Golden Visa from 250,000 to 500,000 euros for areas of high demand, the regulation of the short-term rental market.

He also noted his own housing policies over the years, including the “Save” program since 2009, the liberalization of commercial leases in 2014, the “My Home” program with subsidies and low-interest or interest-free renovation loans , renting and buying a home.

“In the government of New Democracy and Kyriakos Mitsotakis, we have put the issues of the housing market very high on our list of priorities, recognizing that property owners are the backbone of the middle class, the one that keeps our country standing. We operate responsibly, we have honored our commitments both in 2019 and 2023 and we are trying to have a common sense and efficiency approach”, concluded the minister.