In further detail, the "My Home II Program" will be lauched soon with €2 billion available financing from the Recovery Fund. The scheme will facilitate mortgage proceeds for 15,000 young people or young couples up to 50 years old with interest rates half of those offered in retail banks. In this new scheme there will be an increase in the number and the age limit of prospective beneficiaries. Income criteria are also expanded with an increase to the annual income limit to €20,000 for single individuals as well as for couples with children.
Meanwhile a €400 million program is available for loans of up to €20,000 with zero interest aiming to achieve energy upgrade of old houses.
Among other measures comes an exemption from rent tax for 3 years, for landlords who decide to rent out sealed properties or convert a short-term tenancies in long-terms.
A new, increased fee will apply to contracts through platforms, while the ENFIA discount for owners who insure homes worth up to €500,000 from theo-months is increased by 20%. Immovable properties of greater value will retain the 10% VAT discount if they are insured, but if they are not, from April 2025 they will not be compensated by the state in the event of damage.
New short-term leases banned in three central urban neighborhoods of Athens
New short-term leases in 3 central urban areas of Athens (1st 2nd 3rd municipal departments coloured in red, pink and green in the map below) will be banned for at least one year, PM Mitsotakis declared from the floor of the 88th TIF.
In particular, a ban on new short-term leases will apply in the 1st district of Athens, i.e. in the areas of Koukaki, Plaka, Kolonaki, Exarchia, Ilisia, Neapoli and in the "historical center" Syntagma, Monastiraki, Omonia, in the 2nd district in the areas of Mets, N. Kosmos, St. Artemios and Pagrati and in the 3rd district in Botaniko, Gazi, Metaxourgeio, Thisio, Roof and Petralona.
Local housing market has been challenging with intense confrontations recently and short-term leases were considered the main source of market informalities. According to data from Grant Thornton research for the Hellenic Chamber of Hotels, in 2023 approximately 4,800 apartments were available in these areas through short-term lease, up from approximately 2,900 in 2019.
Recently, the Hoteliers requested for the short-term lease the universal application of functional specifications, corresponding to the hotels. The prohibition of the operation of entire buildings as short-term rental accommodations and the establishment of space and time restrictions for leases.
