Greece's Home Renovation Program Sees Strong Demand, Offers Up to €36,000 Subsidy

Greece's "Home Renovation" program, part of the ESPA 2021-2027 framework, has seen a strong uptake, with over 6,700 eligibility certificates issued. This initiative, backed by a 500 million euro budget, aims to revitalize the existing housing stock and boost the supply of available homes.

The program specifically targets low and middle-income households, providing financial support for renovation and energy efficiency upgrades. This makes it a pioneering pilot program of its kind within the European Union. Eligible participants include owners or usufructuaries of vacant homes, provided the property will be used as their primary residence or offered for long-term rental with a fixed rent for at least three years post-renovation.

Homeowners who use their property as their primary residence are also eligible, with the obligation to maintain this use for at least five years after the project's completion. The maximum subsidy available is 36,000 euros per residence, with an additional allowance of up to 2,500 euros for studies, permits, and inspections.

Subsidies are set at 80% for low-income beneficiaries and 70% for middle-income beneficiaries. These percentages can be cumulatively increased by 5 percentage points for properties in mountainous or island regions, for single-parent or large families, or for individuals with disabilities or those with a disabled family member. Eligible homes must have been built before December 31, 1990, be legally recognized, not marked for demolition, and have an energy efficiency rating of C or lower, with a main living area not exceeding 120 square meters (150 square meters for large families).