The “Save – Renovate for Young People” program opens on Thursday, May 18 – The conditions for joining

From Thursday, May 18, the online platform for the “Save – Renovate for Youth” program opens, which will remain open until Friday, September 15, 2023.

According to a statement from the Ministry of Environment and Energy, “the Government is launching a support program for young people, in order for them to start their lives and create a family, living in a decent home.”

The new program, with a total budget of 300 million euros, is part of the Government’s wider Social Housing Policy “My home!” and is going to enable to 20,000 young people aged 18 to 39to upgrade energy and renovate their residence.

“Save – Renovate for Youth” is divided into two sub-sections:

• “Save”, with a budget of 200 million euros, of which 40 million euros are allocated exclusively to vulnerable households, and concerns energy saving interventions, such as window replacement, thermal insulation, heating-cooling systems, hot water supply systems and smart home.
• “Renovate”, whose budget amounts to 100 million euros, includes renovation interventions, such as renovation of bathrooms and kitchens, replacement of the entrance door, replacement and repair of electrical and plumbing installations as well as floors.

A basic condition for inclusion in the subsection “Renovate” is the mandatory inclusion first in the subsection “Save”.

The goal of the program is to save primary energy by at least 30% and upgrade the energy category based on PEA by at least three energy classes compared to the existing classification.

Conditions for the inclusion of beneficiaries in the program:

• All young people born from 01/01/1984 to 31/12/2005, with a family income of up to 50,000 euros for their membership in “Exkoyonamo”, and up to 20,000 euros for their membership in ” Renovate”.
• Beneficiaries should be the owner of the property, with any real right and occupy it, or be full owners, or usufructuary and rent it, to join the “Escogano”.
• Beneficiaries should have a real right of full ownership / usufruct of at least 50%, in order to join “Renovate”. Small ownership is excluded.
• They do not have the right to submit to “Save – Renovate for Young People” residences with an active application in one of the energy upgrade programs: “Ecoconomisi kat Oikon II”, “Ecoconomi – Autonomou” and “Ecoconomi 2021”.

A dwelling, to be considered eligible, must be a detached house or detached apartment and must:

• It exists legally.
• It has not been deemed demolishable.
• It is used as a main residence.
• To be classified in an energy class category lower than or equal to C, based on the Energy Performance Certificate (PEA).

The Program covers eligible costs up to 32,500 euros, for the energy upgrade and renovation of a residence. Specifically by subsection:

1. Eligible “Save” budget: Up to 22,500 euros. The program covers from 45% to 90% of the amount of eligible energy interventions, while the remaining amount can be covered by an interest-free loan.
2. Eligible “Renovate” budget: Up to 10,000 euros. Through “Save – Renovate for Young People” up to 30% of the amount of eligible renovation interventions is covered, while the remaining amount can be covered by a low-interest loan of up to 7,000 euros.

The percentage of the subsidy is graduated, depending on the income category to which the applicant will belong and is defined as follows:

Special care is provided for applicants who have many children, with an additional grant (bonus), amounting to 15%.

“Save – Renovate for Young People” is a program that is fair to citizens, as a network of social, economic and energy criteria is applied for their inclusion, as shown below:

The Minister of Environment and Energy, Kostas Skrekas, stated:

“For the first time we are launching a program that supports young men and women so that they can start their lives in a decent home, start their own family, make plans and create. With the right incentives and the necessary financial tools, our young people can now renovate an old house they own and improve energy efficiency to have a permanently low energy bill.

And in this program of our Government, the main priority is to support vulnerable households, single-parent families and families with many children. We continue to have the most productive and hopeful part of our society, the young people, at the forefront of our policy.”