"Renovate - Rent" program
"The "Renovate - Rent" program is established, which subsidizes the repair of houses with the aim of making them available for rent and in which, through the Unified Digital Portal of Public Administration (EPS-gov.gr), owners or beneficiaries of real estate using residence permit for one (1) of their properties with residential use, on condition that:
a) they own or usufruct the property by a percentage that exceeds fifty percent (50%),
b) the property has a surface of up to one hundred (100) square meters (sq.m.) and is located in a residential area,
c) have an annual family taxable income, real or presumed, that does not exceed forty thousand (40,000) Euros and have real estate, the total value of which does not exceed the amount of three hundred thousand (300,000.00) Euros,
d) the property has not been declared as a first residence, has not been declared as leased and has been declared as blank on the E2 form that accompanies the income tax return of the last three (3) years, and
e) the beneficiaries have not received a subsidy for an energy saving or renovation program in a property they own in the last five (5) years and have not joined subsidized energy saving programs for any of their properties.
The participants in the "Renovate - Rent" program are subsidized for the realization of repair and renovation costs on their property, amounting to up to ten thousand (10,000) Euros, which include the required materials and works. The subsidy amounts to forty percent (40%) of the costs incurred and is granted under the following conditions, which must be cumulative:
a) the relevant invoices are paid online,
b) after the renovation, the property is leased for a period of three ( 3) at least years old.
The Greek Public Employment Service (DYPA) may cooperate with the Hellenic Development Bank S.A. for the implementation of all or part of the "Renovate - Rent" program.
The total cost of the "Renovate - Rent" program does not exceed fifty million (50,000,000) Euros and is borne by the Public Investment Program.
