Housing scheme “Renovate” to launch applications at end of May

The new “Renovate” programme is considered one of the most significant housing policy interventions in recent years, designed to maximise the use of the existing building stock and expand the supply of available housing. It is an ambitious initiative with a total budget of €500 million, primarily targeting the renovation of ageing residential properties and, to a lesser extent, their energy upgrade, thereby distinguishing itself from previous schemes that placed greater emphasis on energy efficiency.

According to official statements, the eligibility screening phase is expected to go live by the end of May via the gov.gr platform, enabling prospective applicants to verify whether they meet the required criteria. The formal submission period for applications is scheduled to begin on 1 September, from which point eligible beneficiaries will be able to submit complete application files.

The programme is regarded as innovative at a European level, as it for the first time allows funding not only for owner-occupied dwellings but also for properties that have remained vacant for at least two years, provided they are subsequently made available for long-term rental. In this way, it aims to address the acute shortage of available housing, particularly in major urban centres.

Eligible beneficiaries include owners of residential properties of up to 120 square metres, built under permits issued no later than 31 December 1990. These properties are often characterised by significant deterioration or functional shortcomings, making substantial renovation essential in order to restore habitability and enhance their market value.

The implementation of the programme will proceed in two stages. Initially, applicants will assess their eligibility through a digital platform by submitting basic information on income and property details. In the second stage, commencing in September, they will be required to submit a full application accompanied by supporting documentation, including property titles, an energy performance certificate, and contractor quotations.

A key innovation of the programme lies in its funding mechanism. Unlike previous schemes, subsidies will not be disbursed retrospectively but will instead be placed in a dedicated escrow account. From this account, beneficiaries will be able to directly settle invoices for renovation works, thereby streamlining payments and reducing administrative delays.

The income criteria are aligned with those of the “Spiti Mou 2” programme, ensuring that support is primarily directed towards middle- and lower-income households. Specifically, annual income must not exceed €25,000 for single applicants, €35,000 for couples (with an additional €5,000 per child), and €39,000 for single-parent households, with corresponding increments. In addition, the issuance of an energy performance certificate is a mandatory prerequisite for application submission.

Regarding the level of subsidy, it is calculated on a per-square-metre basis, with a ceiling of €300 per sqm and a maximum total grant of approximately €36,000 per property. The base subsidy rate ranges between 80% and 90% of eligible costs, with an additional 5% uplift предусмотрed for special categories, including large families, persons with disabilities, and properties located in island or mountainous regions.

The programme places strong emphasis on renovation works, which are funded at a high rate. Eligible interventions include upgrades to plumbing and electrical systems, full renovation of bathrooms and kitchens, replacement of flooring, as well as painting and general restoration works. These interventions are intended to significantly improve both the functionality and living standards of the properties.

At the same time, the scheme retains a secondary energy-efficiency component. Eligible measures include the installation of solar water heaters, replacement of window frames, and other limited energy upgrades. However, such interventions may not exceed 20% to 30% of total eligible expenditure, as the primary focus remains on comprehensive property renovation.

Finally, the programme imposes binding conditions on participation. For previously vacant properties, owners are required to either lease them on a long-term basis or use them as a primary residence for at least three years following completion of the works. Similarly, for owner-occupied dwellings, continued use as a main residence is required for the same period. These conditions are intended to ensure that public funding delivers tangible and sustained social impact.