The program subsidizes the renovation and repair of 12,500 privately owned vacant properties to make them suitable for rental. The subsidy amounts to 40% of the costs incurred, which can amount up to 10,000 euros and include both the required materials and the works. Upon joining the program, an advance payment of up to 2,000 euros is provided.
The property to be renovated:
- it must not be larger than 100 sq.m. and should be located in a residential area
- the owners of the properties should have an annual income of up to 40,000 euros and real estate up to 300,000 euros
- the residence must not have been declared as a first residence or as rented, but listed as vacant in the E2 of the last three years.
The competent body for the implementation, management and monitoring of the Program is designated the Public Employment Service (PSE).
