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Greece considers updates to ‘Spiti Mou 3’ housing program

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2026-10-27 07:50 UTC → 2026-10-27 09:05 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. Part of the National Strategy for Affordable Housing 2026-2035, the program is scheduled for implementation in January 2027, though reports suggest activation could begin as early as late December 2026. The €2 billion budget is expected to be sourced from the Recovery Fund (€500 million), the Hellenic Development Bank’s own reserves (€500 million), and credit institutions (€1 billion). The program aims to assist approximately 20,000 households in purchasing first homes. To address rising real estate prices, the government has increased the maximum property value limit from €250,000 to €300,000 and the maximum loan to €230,000. The program can finance up to 90% of a property’s value, requiring beneficiaries to provide 10% in equity. In October 2026, the government introduced a broader package of 11 measures to address the housing crisis. As part of these developments, officials are evaluating two major updates to ‘Spiti Mou 3’ to expand eligibility and property availability, pending European Commission approval. Proposed changes include allowing the purchase of newer properties with building permits issued as late as 2012 or 2015, up from the previous 2007 limit. Additionally, the government is considering allowing the use of guarantors for mortgage loans to assist young couples and lower-income families. Minister of Social Cohesion and Family Domna Michailidou stated the program aims to help approximately 20,000 additional citizens acquire homes.

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