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Greece subsidy to boost homes for rent, ease housing crisis

Greece is looking at introducing a new incentive aimed at helping boost home supply levels and easing the country’s housing shortage.

Aris Skertsos, Minister of State responsible for the coordination of government policies, said that public consultation will start in coming days on finalising a new subsidy aimed at helping homeowners reopen homes that have been shut down over the years and taken off the rental market.

Help for housing

“There are some 750,000 homes that have been shut down and are not being used due to different reasons, based on tax declarations,” Skertsos told Prodexpo real estate conference that wound up in Athens today.

The subsidy will involve a payment of up to 10,000 euros to the owner as a means of encouraging the reuse of the asset. In a program titled “Renovate and rent” the owner will be required to rent the home on a long-term basis after receiving the 10,000 euros for the next three to five years, he added.

Like many countries in Europe, Greece is grappling with a housing crisis as the strong tourism sector draws a large number of homes that are used for short term rentals, on platforms, such as Airbnb and

Homeowners will be subject to an income and asset test to determine whether they qualify for the aid, said Skertsos, without giving further details.

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