Starting in January, the My House II program opens, which aspires to give approximately 20,000 beneficiaries the right to acquire a house of up to 150 sq.m. with a subsidized loan, with an average interest rate lower than 2%.

The program is financed by the Recovery and Resilience Fund with 1.3 billion euros from the loan component, to which 1.1 billion bank funds will be added, bringing the total financing of the new program to 2.4 billion euros.


The loan that each beneficiary will be able to get will reach 190,000 euros. Half of the loan will be interest-free and the other half will be at an interest rate to be determined in consultation between the Development Bank and the commercial banks. The responsible Deputy Minister of National Economy and Finance, Nikos Papathanasis estimated that for the entire loan the average interest rate will be below 2%.

With the My Home 2 loans it will be possible to buy houses of up to 150 square meters that were built up to 2007. The maximum amount of the loan will reach 190,000 euros and will cover 90% for a contract price with a duration of 3 to 30 years The value of the property should be up to 250,000 euros.

In the second continuation of the My Home program, from which 10,000 families have already benefited, the expansion of the age and income criteria was instituted. Specific beneficiaries will be family members from 25 to 50 years old.

As far as the income criteria are concerned, they are formulated as follows:

-Up to 20,000 for singles

-Up to 28,000 for couples and an additional 4,000 for each child

-In single-parent families, the limit is 31,000 euros and increases by 5,000 for each child.

With the completion of the "My Home II" program, the beneficiaries of this initiative will reach 30,000

I'm Upgrading My Home

In January, the Upgrade My House program will also open, with a total budget of 400 million euros, of which 300 million euros will be allocated from the Recovery Fund and 100 million euros from the banks.

The program will offer approximately 20,000 beneficiaries interest-free loans of up to 25,000 euros to upgrade their residence, regardless of whether it is primary or secondary. In relation to the Save program, the specific program will be simpler, since partial improvements can be made through the loan (only frames, only insulation or only air conditioners) and the owner will not have the obligation to upgrade two energy classes like the Save program.

The Minister of Social Cohesion and Family S. Zaharaki also referred to the social compensation program which is expected to start running from November with the utilization of public properties through DYPA.

Source: Capital.gr