Real estate: help for closed homes and social housing unitsProperty: help for closed homes and social housing units.

The Rebuild-To-Rent program

In addition, the government has two other tools to increase the supply of housing on the market. At issue is the "Rebuild-Rent" program, which is still only on paper from 2022, and the longer-term social anti-punting program.

Approximately 750,000 apartments are currently unoccupied, representing 15% of the country's housing stock, which could potentially ease if they were to return to the market. Along these lines, the "Rebuild to Rent" program involves bringing vacant apartments into the market by subsidizing owners to retrofit them. Homeowners with an annual income of up to €40,000 and properties worth up to €300,000 are eligible for the program, but are excluded if they have already been included in energy saving or renovation programs for any of their properties in the last five years.

The property must be up to 100 square meters and be in an urban area, must not be registered as a first dwelling or rented out, but must be marked as empty for the last three years on form E2.

Participants in the program receive subsidies for repair and renovation costs up to €10,000 (including materials and work). The subsidy is 40% of the costs provided that the bills are paid electronically and the property has been rented out for at least three years.

The social anti-punishment program

Social housing blocks are also planned. A social anti-punishment program will begin in 2024.

How it will work:The State Land and Property Service will provide an undeveloped plot for which a contractor will be selected after a tender to build modern residential and commercial buildings in accordance with the requirements stipulated in the announcement. The public body will retain ownership of the property and the contractor will receive a transfer of use rights until costs are covered, provided that a certain percentage of the housing is offered at a reduced rent to participants in the social anti-punting program.

The period of provision will be specified in the advertisement of each tender as it cannot be uniform for all areas and land values, and the percentage of contractor use will vary from 30% to 60% in order to secure public interest and attract private developers to build modern quality social housing.

Program Schedule:In 2024, it is expected that tenders will be finalized and contractors will be selected based on technical specifications to be determined by the State Service for Land and Property Relations. In 2025, the construction of residential houses by private developers is expected, as well as the invitation and selection of recipients based on criteria by the State Service for Land and Property Relations. From the beginning of 2026 to the end of the year, it is expected to gradually rent 50% of the housing units to the state at low rents for young people based on criteria, as well as a special quota for large families.

Source: ΟΤ.