In 15 days, the platform for the enhanced Renovate – Rent program is set to reopen, offering increased support for property owners. The subsidy rate has been elevated from 40% to 60%, and the maximum eligible expenditure has risen from €10,000 to €13,500. This initiative aims to encourage owners to refurbish their properties and subsequently rent them out for a minimum of three years, thereby increasing the housing supply and addressing the nation’s housing challenges.

Eligibility Criteria:

-Ownership: Applicants must own at least 50% of a property up to 100 square meters located in a residential area.

– Income and assets: Annual family taxable income should not exceed €40,000, and total property value must be under €300,000.

– Property status: The property should not be declared as a primary residence or rented out and must have been listed as vacant in tax declarations for the past three years.

– Previous subsidies: Applicants should not have received any energy-saving or renovation subsidies for their properties in the last five years.

Notably, those who applied under the initial program can now benefit from the increased subsidy rates and expanded eligible expenses. The platform will be accessible through gov.gr, with the Public Employment Service (ΔΥΠΑ) overseeing its implementation. Applicants can submit new or additional expenses, provided the total does not exceed €13,500. Upon application submission, a payment decision will be issued, reflecting any previously disbursed amounts.

By participating in this program, property owners can enhance their assets while contributing to the alleviation of housing shortages in the country.