The policies implemented so far by the government for the development of the real estate market and the new initiatives implemented in 2025 were presented by Minister of National Economy Kostis Hatzidakis speaking today at its 42nd annual conference Panhellenic Federation of Property Owners (POMIDA).

“We have made a multi-level effort to support private real estate and, now in 2025, more actions are taking place. Our policy strives to respond to the needs of all involved. And keep a balance between all parts. In this case, that is, between the owners on the one hand, the buyers and the tenants on the other,” emphasized Mr. Hatzidakis who represented Prime Minister Kyriakos Mitsotakis at the conference.

The actions that have already been implemented, as noted by the minister, include the following:

  • A reduction in ENFIA which on average since 2019 has reached 35% and was one of the first tax reductions made by the Mitsotakis government in 2019.
  • 10% discount to ENFIA for houses insured against natural disasters that was valid last year.
  • Abolition of parental benefits tax up to 800,000 euros for 1st degree relatives.
  • Suspension of VAT on new buildings from 2020.
  • 30% discount from taxable income for expenses made by electronic means for home repair and maintenance by certain professionals up to 5,000 euros per year.
  • Strengthening in 2023 of the tax reduction for costs of energy, functional and aesthetic upgrading of buildings during 2024 from 40% to 100%, with a maximum expenditure limit of 16,000 euros. Those who took advantage of the measure will see the benefit in this year’s accounts.
  • Launch of the “Renovate-Rent” program, to increase the number of homes available for rent through the utilization of vacant private homes.

“Since last September”, said Mr. Hatzidakis, “and until the end of 2025, partially accepting the proposal of POMIDA, we exempted from the 3-year income tax the properties that have been vacant for at least 3 years and will be rented, as well as those that are converted from short-term to long-term leases.”

While the initiatives starting in 2025 are:

  • The second cycle of the “My Home” program with expanded age and income criteria, the interest in which has exceeded the expectations of many.
  • The new 400 million program euros of the Recovery Fund for the energy upgrade of old houses with zero interest.
  • The reduction of ENFIA by an additional 10% on houses insured for natural disasters worth up to 500,000 euros. So the total discount thus reaches 20%.
  • The extension for one more year, until the end of 2025, of the suspension of VAT on new buildings.
  • The doubling of the maximum subsidy of the Renovate-Rent program from 4,000 to 8,000 euros.
  • The extension of the institution of social compensation, through which the contracting parties will be able to build homes that will either be available at affordable rents, or will be sold using the rent-to-own method.
  • “I am closing, with a new initiative of ours, valuemaps.gov.gr, which was adopted by a provision of the recent tax bill. The platform in question is essentially a “digital map” developed by the Ministry of National Economy and Finance, which offers users – owners, public services and any other interested parties an easy and quick identification and calculation of the objective value of any property in the country.” pointed out Mr. Hatzidakis.

Referring to the developments in the real estate market, the minister noted that while in the last decade, the economic crisis worked against the owners, with the fall in property prices and in favor of the tenants, now the economic developments work in the opposite way: against the tenants and in favor of the owners . “This, he emphasized, is also the reason why we are simultaneously implementing a network of measures for housing policy and balancing the market, which I have just described. We have therefore adopted a number of initiatives for owners. But under no circumstances can we forget the tenants as well, within a framework of social justice and comprehensive housing policy.”

And he concluded:

“I understand the desire of every citizen, not only in Greece but also everywhere in the world, to pay less taxes. Our government, as I have demonstrated with a series of measures we have adopted, is moving in this direction. The issue, of course, is always the endurance of the budget. That’s why we’re going step by step, combining fiscal prudence with growth. Because otherwise we would send a completely negative message, not for the government, but for the country in the international markets. This mix of economic policy creates the conditions for us to be able to gradually move towards a gradual reduction of taxes for consistent taxpayers. Based on our philosophy, which is a philosophy of supporting the free economy and the right to property, we want to strengthen development, give further impetus to the economy, create further opportunities for everyone, but also all the necessary conditions for the exercise of a fair social policy”.