The new “Spiti Mou 3” program is expected to launch at the end of December or in early January 2027, offering a new opportunity to buy a first home through a low-interest housing loan. With a budget of €2 billion and a goal of supporting about 20,000 beneficiaries, the new program expands the age and income limits and increases both the maximum loan amount and the eligible property value.
What Changes In The Criteria
The changes aim to help more young people, couples and families buy a home at a time when high property prices and borrowing costs remain major obstacles to homeownership.
The New Limits
“Spiti Mou 3” significantly expands the eligibility limits compared to the previous program, “Spiti Mou 2.” The age limit for beneficiaries rises from 50 to 55, while the maximum property value is set at €300,000, up from €250,000.
At the same time, the maximum housing loan amount rises to €230,000, compared to €190,000 under “Spiti Mou 2,” widening the options available to those looking for a first home.
The changes to the income criteria are also significant, with the aim of covering more households:
- Single individuals: The maximum income limit rises from €20,000 to €25,000.
- Married couples: The limit is set at €35,000, plus €7,000 for each child, compared to €28,000 plus €4,000 per child under the previous program.
- Single-parent families: The maximum income rises to €39,000, plus €7,000 for each child, from €31,000 plus €5,000 per child previously.
In addition, the program increases the allowed square meters for families with more than four children by 10 square meters for each additional child beyond the fourth.
Financing Up To 90% Of The Property Value
A key advantage of the program remains the ability to finance up to 90% of the home’s value. The remaining 10% is covered by the beneficiary’s own funds, while the lower borrowing cost is a decisive factor in making a first-home purchase sustainable.
The final details on the application process, required documents and specific terms are expected to be clarified before the program begins.
The experience of the two previous programs shows the demand for affordable housing finance. In total, 21,928 loan contracts were signed under “Spiti Mou 1” and “Spiti Mou 2,” of which 7,814 were under the first program and 14,114 under the second.
“A Once-In-A-Lifetime Opportunity” For Young First-Time Buyers
For many beneficiaries, “Spiti Mou 2” was a decisive opportunity to buy their own home, in a market where prices and financing costs are making access to housing increasingly difficult.
One example is 28-year-old Dimitris Stavrianakis, who told the Athens-Macedonian News Agency (ANA-MPA) that he did not think buying his own home was possible. Despite having a steady job, his limited available capital, property prices and the cost of a conventional mortgage significantly restricted his options.
Learning about “Spiti Mou 2” led him to look into what the program offered. In the end, he managed to buy a home in the wider area where he wanted to live.
As he explains, the monthly installment is manageable and significantly lower than that of a conventional mortgage. He estimates, for example, that the rent for a similar property could be up to €200 higher than the installment he pays today.
For him, owning a home provides not only greater financial predictability but also a stable foundation for the future.
A Housing Solution For Families With Greater Needs
Christos and Elina, a young couple who looked for a larger home after the birth of their second child, had a similar experience.
In the Ministry of Social Cohesion and Family publication “Stories That Changed Lives: 26 Programs, One Ministry, Every Family,” which was presented at the 90th Thessaloniki International Fair (TIF), the couple describes how taking part in “Spiti Mou 2” helped them buy their own home.
As they say, without the program’s support, the purchase would hardly have been possible at this stage. The new home is larger, more comfortable and located in an area that better serves the family’s needs.
At the same time, the lower monthly installment compared to a conventional mortgage leaves more room in the family budget, allowing them to cover other needs, especially those related to raising children.
By expanding the criteria and raising the financing limits, “Spiti Mou 3” seeks to extend this opportunity to more households. The final range of beneficiaries, however, will depend on the final terms to be announced before the program launches.
