The provision and the current year of the tax deduction for renovations or home repairs, provided that the relevant expenditure is paid by electronic means of payment, is planned by the government’s financial staff.

The aim of the Ministry of National Economy and Finance is to open as many properties as possible that remain closed with the ultimate goal of limiting high rental prices.

The tax deduction that a taxpayer may secure can amount to up to EUR 3,200 for each tax year and up to EUR 16,000 in a five -year period.

Specifically, under the law, expenses for goods and services related to energy, functional and aesthetic upgrading of buildings reduce, equally distributed over a period of five years, the income tax of natural persons, up to the corresponding tax for each year, with a maximum of 16,000 euros. Expenditure on materials are taken into account up to the amount corresponding to 1/3 of the amount for services.

For example, if one spends 16,000 euros in 2025 on the renovation of their home, he will save a tax tax of 3,200 per year for the next five years. If the same taxpayer spends 10,000 euros this year on renovation and the income tax he will be required to pay with the 2025 tax return clearance amounts to EUR 3,000, he will see his tax limit to EUR 1,000 due to the deduction of 2,000 euros (10,000/5 = 2,000).

The discount also applies to public spaces of apartment buildings, such as lighting, lifts or external work, as long as the cost of the expenditure has been carried out by the manager of the apartment building through electronic means of payment and is accompanied by a relevant certificate per apartment, with reference to ATAK.

It is noted that in order to entitle the discount, the costs should not have been integrated into other subsidized programs (“renovate” or “save”) or have already been replaced as business costs of business.

More specifically, the conditions For the discount is:

• Proof of the costs of legal documents (invoice or retail item for the provision of services), which will distinguish the type and value of the service provided, the data (name, VAT) of the person, and the details of the property (ATAK), unless they are.

• The repayment of expenditure, regardless of their amount, has been carried out by electronic means of payment or through a payment provider (cards, POS, e-banking, electronic wallet, etc.).

Beneficiaries of the discount are natural persons who have the right of full ownership or usufruct in the building in which the eligible costs of energy, functional and aesthetic upgrade are carried out as well as natural persons who have the right to ownership of the property, provided they use it either as a primary or secondary business.

In the above cases the beneficiary of the reduction is only the person in whose name the relevant document is issued.

Services receipt that are recognized are the following:

A. Energy:

– Installation of thermal insulation,
– Replacement of frames, glass and external protective sheets,
– Installing or upgrading heating/cooling system and the necessary infrastructure and data to become fully functional,
– Installation of automatic control of the operation of the heating/cooling system,
– Installation of electricity self -production system (with energy offsetting), as well as electric batteries (batteries) when combined with photovoltaic systems,
– Installation of hot water production system using renewable energy sources (RES),
– Installation of a mechanical ventilation system with heat recovery, – upgrading of lighting to the public spaces of apartment building.

B. Functional – Aesthetic:

– Installation/replacement of hydraulic installation,
– Placing/replacing an electrical installation,
– maintenance/roof repair,
– Masonry/coloring repair inside and exterior of buildings, – placement of fixed or mobile shading systems,
– upgrade or installation of lift,
– Installation of household electric vehicle recharge points,
– Change or repair of flooring.