In the next period - and definitely before the end of the year - the DYPA program will be launched that will allow property owners to secure subsidies of up to 10,000 euros for the renovation of their residence: To get this amount, however a necessary condition is that they rent immediately after the renovated house with a cheap rent to young people. However, young people will also find cheap rents through the so-called "social housing".

Specifically, within the next period Public Employment Service (DYPA) θα «τρέξει» δύο νέα προγράμματα: The actions that the Service is about to activate will allow thousands of young men and women to secure housing by paying low rents.

The "Renovate - Rent" program

One of the programs that will be activated is the "Renovate - Rent". Through this program it is subsidized the renovation of private homes in order to then make them available for rent.

In other words, it aims to increase the supply of housing by providing incentives for empty properties to be used again, once they are restored to a condition that can be used.

Specifically, through the "Renovate - Rent" program the repair of houses is subsidized 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 with residential use participate for one (1) of their properties with residential use, provided that:

  • own or usufruct the property by a percentage that exceeds fifty percent (50%),
  • the property has an area of up to one hundred (100) square meters (sq.m) and is located in a residential area,
  • 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,
  • the property has not been declared as a first residence, has not been declared as leased and is declared as vacant on the E2 form accompanying the income tax return of the last three (3) years, and
  • the beneficiaries have not received a subsidy for an energy saving or renovation program in their property in the last five (5) years and they have not joined subsidized energy saving programs for any of their properties.

Program participants "Renovate - Rent" are subsidized for repair and renovation costs on their property, up to ten thousand (10,000) euros, including 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:

  • the relevant invoices are paid electronically,
  • after the renovation, they proceed to lease the property with a duration of at least three (3) years.

"Social compensation" for cheap rents for young people

The other program is titled «Social compensation». Under this program State properties are expected to be utilized, through partnerships with the private sector, for the construction of social housing.

The aim is to house the beneficiaries of the "social compensation" program in quality properties.

A large part of the properties will be granted by DYPA. Within the year, it is estimated that 11 acres in Kifissia, 20 in Paiana, 40 in Larissa, 28 acres in Xanthi and 74 acres in Volos, where social housing will be built, will be "on the market".

So how will the new system work? DYPA will grant the undeveloped plot, for which a contractor will be selected after a tender, while it will undertake to construct modern residential and commercial buildings, based on the specifications provided for in the notice.

The public body will retain ownership of the properties, while the contractor will receive in exchange the concession of the exploitation until the costs are covered and on the condition that a percentage of the houses will be available at a reduced rent to the beneficiaries of the social compensation program.

The duration of the concession will be defined in the announcement of each tender as it cannot be uniform for all areas and land values, while the contractor's exploitation rate will vary between 30 and 60%, in order to ensure public interest, but also to make the program attractive, so that private builders build modern quality social housing.

In the next period and until the end of the year  it is estimated that after the tender procedures have been run we will also have a selection of contractors based on the technical specifications set by DYPA.

The construction of the houses is expected within 2024 by the private manufacturers, while DYPA will invite and select the beneficiaries based on criteria.

From the beginning of 2025 until the end of the year, it is expected that 50% of the houses will gradually be leased on behalf of the State, at a low rent, to young people based on criteria, while there will be a special quota for three children and many children.

Vangelis Dourakis

enikonomia.gr

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