Nikos Skoufas: Opinion on the "My Home" housing program
The lack of suitable properties on the market tends to put the "My Home" program at a standstill as, although banks have pre-approved thousands of mortgage applications, it is doubtful how many beneficiaries will manage to find within 60 days a residence that meets housing needs them to join the program.
The time frame, combined with the lack of available properties, limits a couple's ability to find the home of their choice, and when this happens, many couples will be fighting for the same property as the ratio of supply and demand is too high. Market conditions have long been very limited in terms of buyers.
It is no coincidence that there are thousands of loan pre-approvals and the percentage of those who were approved and found a home is very small. It is clear that the available stock is not sufficient to cover the already increased demand.
We find that this program requires improvements in several criteria. Fixes and relaxations on some issues such as time frame and property dating would go a long way to stop the pressure being so suffocating on the market. Right now, loans are being given, there is money, but not enough available real estate.
In this situation and in this fluctuation of the market, the leading real estate company INVESTA Real Estate is here to inform you based on your own real estate needs, giving the necessary advice, the ideal solutions, information on available properties and in general the news of the market and how you can benefit in general.
Nikos Skoufas
Real estate advisor
Larissa real estate agency - INVESTA Real Estate
