The Greek government is rolling out a new home renovation subsidy program as part of broader efforts to ease the country’s housing crisis by bringing closed and aging properties back onto the market.
Deputy Economy Minister Nikos Papathanasis announced this week the launch of the “Renovate” (Anakenizo) program, which will come into effect in May and subsidize both energy efficiency upgrades and extensive renovation works.
The initiative aims primarily to incentivize owners of closed or underused homes, particularly in Athens and Thessaloniki, to renovate their properties and make them available for permanent residence for at least five years. The scheme will also apply to homes that are currently occupied.
Papathanasis described the program as the first of its kind in Europe, noting that it combines energy upgrades with broader functional renovations in a single funding framework.
Under the new scheme, subsidies have been increased to as much as 36,000 euros per property, with an additional 5,000 euros per child, covering up to 90% of total renovation costs. Funding is capped at 300 euros per square meter for homes of up to 120m2.
Eligible works include kitchen and bathroom renovations, window replacement, and electrical and plumbing upgrades, with the goal of improving both the functionality and quality of older housing stock.
Alongside the renovation program, Papathanasis also announced the creation of two new funding instruments: a 4.7-billion-euro Social Climate Fund to support vulnerable citizens through housing and energy programs, and the 1.7-billion-euro Modernization Fund aimed at upgrading public infrastructure, including public transport.
The government hopes the new measures will help relieve pressure on the housing market, particularly in urban centers where demand has sharply outpaced supply.
