Greece considers Build to Rent plan to boost housing supply

The Greek government is developing a plan to increase housing supply through 'Build to Rent' investments. The proposal aims to provide developers with incentives such as additional building rights, potential additions of up to two floors to residential buildings, long-term tax exemptions, and favorable financing.

In exchange for these incentives, properties must remain in long-term lease programs with affordable rents. A key provision of the plan is that rent should not exceed 25% to 30% of a household's net monthly income. For a household earning 1,500 euros per month, this would cap rent between 375 and 450 euros.

Other elements under consideration include reduced VAT for construction, exemptions from ENFIA (property tax) and rental income tax, faster licensing, and changes in land use. To qualify, projects must meet certain criteria, such as a minimum development area of 3,000 square meters and a minimum of 50 apartments per residential complex.