Prime Minister Kyriakos Mitsotakis chaired a key meeting on Tuesday, focusing on new initiatives to address Greece’s growing housing crisis.
Central to these efforts is the expansion of the “My Home 2” programme, which will provide increased access to affordable housing and assist first-time homebuyers.
Building on the success of the original “My Home” programme, which helped over 9,000 citizens purchase homes with mortgage payments lower than rent, Mitsotakis announced that “My Home 2” will launch in January with €2 billion in funding. The programme is expected to benefit around 20,000 citizens.
“This programme is a critical part of our broader strategy to address the housing crisis,” Mitsotakis stated. “We are offering half of the loan interest-free, financed by the Recovery and Resilience Fund, and the other half at a low interest rate from banks. For families with three or more children, 75% of the loan will be interest-free.”
Key changes to the programme include broader eligibility criteria. Citizens who meet income requirements over a three-year period will now qualify, even if their recent income has risen. Loan pre-approvals will also remain valid until funds are fully allocated, giving applicants more time to complete their home purchases.
The age and income criteria for applicants have been expanded. Individuals aged 25 to 50 are now eligible, with maximum income limits increased to €20,000 for single-person households, €28,000 for couples, plus an additional €4,000 for each child. Single-parent families are also eligible with an annual income of €31,000 and €5,000 more per child.
The meeting also introduced the “Upgrading My Home” initiative, which will offer interest-free loans of up to €25,000 for home renovations, including energy efficiency upgrades such as insulation and solar water heaters. With a total budget of €400 million, the programme offers flexible repayment periods between three and seven years and is designed to be accessible with minimal income restrictions.
Mitsotakis predicted strong demand for the “Upgrading My Home” programme, which complements the broader governmental effort to address housing shortages and revitalise unused rental properties. These initiatives are part of a larger strategy to implement a comprehensive housing policy aimed at easing the housing crisis across Greece.
(Source: Amna)