According to the Minister, the program has already reached 53% of its implementation, and by the end of the year, it is expected to benefit a total of 20,000 eligible recipients. The average household income of the beneficiaries amounts to €20,600, while the average age is 37 years. The average home acquired through the program is 89 square meters. In terms of cost, the average loan installment is approximately 40% lower than the corresponding rent.
The new housing program "My Home II", which succeeded the initial "My Home" program, incorporates substantial changes to the eligibility criteria and financing process. It was launched at the beginning of the year with a budget of €2 billion, aiming to support citizens in search of affordable housing.
The most significant difference between the two programs lies in the age group of eligible applicants. While the initial program targeted citizens aged 25 to 39, "My Home II" extends the age limit to 50 years, thus enabling a greater number of citizens with potential borrowing capacity to acquire home ownership.
At the same time, the income thresholds have been revised upwards. For single individuals, the limit increased from €16,000 to €20,000, while for couples it was adjusted to €28,000 (from €24,000).
Under "My Home II", 50% of the loan amount is provided interest-free, and for families with three or more children, this percentage rises to 75%. The maximum loan amount has been increased to €190,000 (from €150,000 in the previous program), covering up to 90% of the property's value.
The new framework allows for the purchase of properties built up to the year 2007 (as opposed to a 15-year limit in the previous program), and the maximum permissible property value has been raised to €250,000 (from €200,000).
