In a coordinated effort to address a worsening housing crisis, the Greek government is pushing forward its flagship tool: the National Housing Policy Strategy 2026-2035. This is the first unified, decade-long plan designed to end the fragmentation of responsibilities and the piecemeal nature of past interventions.
The ambitious plan, with a total budget of 6.5 billion euros, encompasses 50 measures in all — 14 newly proposed and 36 already launched or in progress. Funding for this massive program is secured through a mix of sources, including EU structural funds (ESPA), the Recovery Fund, the European Investment Bank, national appropriations, commercial banks, and new European resources.
The plan is built around three central pillars: increasing the supply of available properties on the market, providing immediate relief to households struggling under the weight of housing costs, and continuously monitoring the effectiveness of the measures through digital tools.
What Is Changing in the Property Market: 9 Major Interventions
At the core of the new strategy are 14 institutional and practical innovations. The 9 most significant are expected to fundamentally reshape the domestic real estate landscape:
- Unified Housing Policy Agency: A central coordinating body will oversee and implement all housing programs, with particular emphasis on social housing.
- Homes on Public Land in Island Communities: Public land on the islands will be made available for residential construction to address the severe shortage of housing stock in those areas.
- Fast-Track Building Permits: Bureaucratic procedures for new construction and renovations will be simplified and accelerated.
- Incentives for Developers to Build Social Housing: Construction companies will receive low-interest loans, guarantees, and interest rate subsidies on the condition that a portion of new units is offered at affordable or subsidized rents.
- Social Rental Offices in Municipalities: Operating through Community Centers, these offices will serve as a bridge between property owners, local governments, and social services to place vacant apartments back into use.
- Digital Platforms for Students: A central digital hub will consolidate all available housing information to help students and their families navigate the rental market.
- “SOS” for Public Servants on the Islands: A dedicated digital platform will track housing needs for teachers, doctors, and police officers in island municipalities and match them with available supply, ensuring critical services remain adequately staffed.
- National Property Price Index: An official observatory for property prices and rents will be established so that government decisions are grounded in real, comparable market data.
- Performance Indicators: The strategy’s progress will be assessed based on measurable outcomes, such as the reduction of households’ housing cost burden and the number of vacant apartments brought back into active use.
Measures Already Underway: From “Renovate and Rent” to the Golden Visa
Alongside the newly proposed measures, the National Strategy incorporates and strengthens initiatives already in progress:
- Bringing Vacant Apartments Back to Market: Through the “Renovate and Rent” program and the “Renovate Your Home” program (valued at 500 million euros, with subsidies of up to 95% or 36,000 euros per property), between 15,000 and 20,000 households are finding housing. In addition, property owners who reopen shuttered homes or convert short-term rentals into long-term leases receive a full income tax exemption on rental income.
- Student Dormitories and Social Housing: 8,600 new beds are being built across six universities (at a cost of 737.5 million euros), while inactive military barracks are being repurposed for social housing.
- Curbing Excesses in Short-Term Rentals and the Golden Visa: Strict local and time-based restrictions are being placed on short-term rentals, a 13% VAT and a resilience fee are being imposed, and short-term rental activity is explicitly banned for properties acquired through the Golden Visa program.
- Subsidies and Homeownership: Direct financial support continues through the Housing Allowance (300 million euros for 434,000 beneficiaries), the Rent Rebate (201.6 million euros for 877,000 beneficiaries), and the Student Housing Grant (90 million euros for 46,000 recipients). At the same time, the “My Home” program remains the primary vehicle for young people to purchase a first home through low-interest loans.
Transparency at a Click: stegasi.gov.gr
Coordinating this vast undertaking is the Government Housing Policy Committee, an interministerial body chaired by the Minister of State with representation from 10 ministries.
In the interest of maximum transparency, the digital portal stegasi.gov.gr is now live. Beyond serving as a one-stop shop for all available housing measures, the site will publish monthly progress reports. Citizens and journalists will thus be able to track the strategy’s implementation in real time, as the government promises to transform the future of housing in Greece.
A Call to Join the Public Dialogue
Minister Domna Michailidou has taken to social media to invite citizens to participate in the process and submit their proposals:
“What would you change about housing policy? For the first time, your voice on housing can be heard right where decisions are made. This is what public consultation is — and this National Housing Strategy is our country’s plan for how Greeks will find affordable housing in the years ahead.
Until July 3rd, we want you to read it and share your comments and suggestions. We review each one individually and shape the plan accordingly. Housing affects all of us, and you can directly influence a policy that touches your everyday life.
