We will go to developers, say “build, keep a piece”, a kind of consideration essentially, where we will put the land and keep the rest for social housing, said Mr. Mitsotakis
Prime Minister Konstantinos Mitsotakis met with a young couple with two children, who acquired their own house in Galatsi as beneficiaries of the “My Home” program.
31-year-old Spyros and 29-year-old Rafaella, private employees, until recently rented a smaller apartment in the same area but thanks to the subsidy from the Public Employment Service (DYPA) mortgage they got their own housepaying every month for the repayment of the loan about half the amount compared to the rent they would pay for a similar house.
“Being able to end up paying less than you would for rent, but for it to be your own house, which will be left to you in the end, I think this was the great innovation of the program”, pointed out the Prime Minister. “You look at your future, you look at your good, so you keep going up, up, up, trying too hard for the two creatures, at least in our case. So, you better look”Rafaella said for her part.
The program was implemented in just nine months after the original law was passed and they have joined 9,766 beneficiaries, of which 61% are couples and single-parent families. After doubling the initial budget due to the great response, the total amount of loans exceeds 1.03 billion euros, with DYPA covering 75% of the amount interest-free, a total of 773.9 million euros. The interest charge for three-child and multi-child households is fully subsidized, with 19.1 million euros.
“The uptake was so fast that it surprised even us”said the Prime Minister, referring to the great impact the program had on young people up to 39 years old, while he emphasized that the “My house” it is only part of the government’s wider housing policy.
“”My house” is only one piece. We will also proceed with the construction of new homes using real estate, that is, we will offer the land essentially. We will go to developers, builders, to say “build, keep a piece”, a kind of consideration essentially, where we will put the land and keep the remaining part for social housing, essentially housing with better conditions”, said Kyriakos Mitsotakis .
“And of course we have a big issue with many properties, many apartments which are closed. Which, suddenly, because prices have gone up, if you give an incentive to repair, if you also give the other person a helping hand to do a basic repair, suddenly that proposition becomes more attractive,” noted the Prime Minister. “We need to increase the supply of apartments because the demand is what it is and will continue to grow.”
During the discussion, Kyriakos Mitsotakis asked Spyros and Raffaella to tell him about their experience and discussed ways to improve the “My Home” program, to further support young borrowers.
The couplein order to facilitate those interested in the part of private participation, proposed to increase the maximum amount of the loan above the existing ceiling of 150,000 euros or to give the possibility of granting a supplementary loan. Spyros and Raffaella also proposed to create an electronic platform where the owners can post the available houses, so that it becomes easier and more economical to locate the properties that meet the conditions of the program.
“We really would and still do recommend it to friends who deserve it”, Spyros said. “We must insist on the process, after all, economics is what we say: you end up paying half the installment of what you would pay for rent, for your own house,” the Prime Minister pointed out.
Source: Skai
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