A new round of state-backed home renovation subsidies is expected to open in May, as authorities move forward with an expanded programme designed to upgrade private housing and support energy-efficient improvements.

The scheme, known as “Anakainizo” (Renovate), will focus on encouraging the refurbishment of older homes, with a total budget of around €500 million and a significantly broader scope than previous versions.

Expanded support for home upgrades

The programme is designed to finance renovations of up to 20,000 homes, with eligible properties limited to a maximum size of 120 square metres. Financial support will cover between 70% and 95% of renovation costs, depending on the applicant’s income and vulnerability status.

The maximum subsidy is set at €300 per square metre, with total support per property reaching approximately €36,000.

Roughly 80% of the funding will be directed toward structural repairs and basic renovations, while the remaining share will support energy efficiency upgrades.

Who can benefit

The scheme targets low- and middle-income households that lack the financial capacity to renovate their homes. Enhanced support will be available for vulnerable groups, including people with disabilities, large families, single-parent households, young adults aged 25 to 35, and residents in mountainous or island regions.

Applicants will be required to either rent out the renovated property for at least five years or use it as their primary residence for the same period.

A new housing policy approach

Unlike previous versions of the programme, the updated scheme places greater emphasis on repair works, which officials say represent the most significant financial burden for owners of older or vacant properties. It also expands eligibility to include existing primary residences, significantly widening its reach.

The initiative is funded through approximately €500 million in resources drawn from multiple European funding programmes under the 2021–2027 framework.