The Greek government is launching a €400 million renovation program and subsidy amounts of up to 36,000 euros and will concern old and closed houses as a priority. In practice, a subsidy of up to 300 euros/sq m will be granted (approximately 50%-60% of the cost of a complete renovation), while old (pre-1990) and closed houses will be eligible as a priority, with a surface area of ​​up to 120 sq m. Income criteria will also apply, as the aim of this program is mainly to facilitate households that are financially unable to repair their properties. Thus, annual income limits of 25,000 euros for singles and 35,000 euros for couples are expected, increased by 5,000 euros for each child. The important point is of course that this program does not concern owner-occupied properties, but properties that will be offered for long-term rental (at least five years). Based on data from the latest 2021 census, out of 6.6 million homes, only 770,000 or 11.6% have been built since 2001, meaning they are up to 25 years old. In contrast, from 1945 to 1980, 1.94 million homes have been built, almost 30% of the total, which need extensive upgrades, as they lack insulation and modern heating systems. Another important element is that nationwide it is estimated that there are 700,000 to 900,000 empty apartments (main residences). In Attica, 77% of closed apartments are over 35 years old, of which approximately 50% are located in apartment buildings. Many of these properties are in the possession of people who either live in other cities in the country or abroad, or even elderly people without resources. The result is the same: empty houses with no prospect of repair and development. In order to provide incentives and "unlock" homes, which is the main objective, the government is bringing a new subsidy program for renovations of old homes to the market from 2026. This initiative complements existing, highly-demanded "Exoikonomo" energy-saving programs aimed at improving the sustainability of the nation's building sector. (ICE ATENE)

Fonte notizia: Money Review