Greece announces new housing loans and renovation subsidies

Greece is advancing two major housing initiatives: the ‘Spiti Mou 3’ mortgage program and the ‘Renovation of Housing’ subsidy scheme.

The ‘Spiti Mou 3’ program, expected to launch in late December 2026 or early January 2027, has a budget of €2 billion. It aims to assist approximately 20,000 individuals, couples, and households with low-interest loans. Key updates include raising the age limit to 55, increasing the maximum property value to €300,000, and raising maximum funding to €230,000. Income thresholds have also been expanded for single individuals, married couples, and single-parent families.

Separately, the second phase of the ‘Renovation of Housing’ program is approaching. This initiative offers subsidies of up to €36,000, covering up to 95% of eligible costs for home upgrades. Minister Domna Michailidou and Deputy Minister Nikos Papathanasi have indicated that the electronic platform will open soon. Priority will be given to owners of vacant properties who have already received eligibility certification. Currently, 94,000 pre-approvals have been issued, including 14,000 for vacant homes and 80,000 for occupied residences. The first installment of 60% of eligible expenses is expected to be paid in the first quarter of 2027.