[REVISION HISTORY]

Greece expands housing policy with €2bn ‘Spiti Mou 3’

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2026-09-07 13:39 UTC → 2026-09-08 09:39 UTC · added ~~removed~~

The Greek government is transitioning its housing support from temporary measures to a permanent mechanism through the ‘Spiti Mou 3’ program. Following the conclusion of the ‘Spiti Mou 2’ phase on August 31, which saw 14,114 contracts signed totaling €1.54 billion, Prime Minister Kyriakos Mitsotakis has launched a significantly expanded €2 billion housing package. Managed by the Hellenic Development Bank and funded by the Recovery Fund, this new phase ~~aims to assist between~~ is scheduled for implementation in January 2027. While earlier estimates suggested assistance for 15,000 ~~and~~ to 20,000 households, updated projections indicate the initiative aims to assist approximately 40,000 first-time homebuyers with ~~a specific focus on young people, new couples, freelancers, retirees, and small businesses.~~ low-interest loans. To address rising real estate prices, the government has increased the maximum property value limit from €250,000 to ~~€300,000. Additional updated criteria include raising the age limit to 55 years, increasing~~ €300,000 and the maximum loan to €230,000, ~~and expanding the family income threshold by €7,000 per child. The program~~ which may cover up to 90% of a property’s value. The age limit for applicants has been raised to 55 years. Income thresholds have also been adjusted: single individuals are capped at €25,000, married couples at a base of €35,000 (plus €7,000 per child), and single-parent households at a base of €39,000 (plus €7,000 for each child beyond the first). Additionally, large families with more than four children may be permitted to exceed the standard 150 square meter property limit. Moving away from the 50/50 funding model used in previous iterations, the program will utilize a financing model involving tax incentives for financial ~~institutions that provide low-interest loans.~~ institutions. Accompanying these measures are significant changes to real estate taxation, including a transfer tax increase for non-EU citizens ~~purchasing residential property, raising the transfer tax~~ from 3% to 15%. Additionally, the government plans to expand the abolition of the Unified Property Tax (ENFIA) for small settlements starting in 2027, raising the population threshold from 1,500 to 2,000 residents, with specific adjustments for Western Macedonia. These developments are part of a broader strategic roadmap through 2031, which includes goals to provide 20,000 new or renovated homes and create 8,500 student dormitories. The ‘Spiti Mou 3’ cycle is expected to officially activate in early 2027.

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