Greece secured a major funding boost for housing renovations after completing the mid-term revision of the ESIF 2021–2027 programmes, redirecting €2.13 billion towards new strategic priorities.
The European Commission approved the revision, allowing the government to respond to key challenges including the housing crisis, climate change, and national security needs.
Authorities allocated €1.91 billion to new strategic priorities and €224 million to strengthen existing critical initiatives, marking a strategic shift in the use of European funds.
The five pillars of new investments
The reallocated resources will be directed towards five key sectors:
Housing: Initiatives supporting affordable and sustainable housing.
Water Resources: Projects ensuring secure access to water and responsible water management.
Technology (STEP): Funding for critical technologies aimed at strengthening European competitiveness.
Defence & Security: Support for civil preparedness and security infrastructure.
Energy: Acceleration of projects supporting the green transition.
The completion of the revision provides two major advantages for programme implementation:
- Extension of expenditure eligibility for ESIF 2021–2027 programmes by one year, allowing funding use until 2030.
- Additional advance payments totalling €650 million, of which €450 million has already been disbursed to Greece.
A central measure of the revised funding strategy includes a €500 million programme supporting the renovation of older residential properties, including both vacant and occupied homes. The initiative combines renovation works with mild energy-efficiency upgrades aimed at improving living conditions and reducing housing shortages.
Subsidies range from 70% to 95%, depending on social and geographic eligibility criteria. The programme targets low- and middle-income households that lack sufficient financial resources to renovate or utilise their property.
Categories eligible for higher subsidy rates
The highest subsidy levels of up to 95% apply to the following categories:
Social categories
- People with disabilities
- Families with three children
- Large families (polyteknoi)
- Single-parent families
- Young people aged 25–35
Property categories
- Closed (vacant) older homes
- Open (occupied) older homes
Geographic categories
- Properties located in mountainous areas
- Properties located in island regions
The programme aims to increase housing availability and improve the quality of owner-occupied housing, particularly for vulnerable households and underserved areas.
Deputy Minister of National Economy and Finance Nikos Papathanasis described the ESIF revision as a national success, stating that the government’s systematic work produced measurable results and ensured that available European funding will be fully utilised.
He emphasised that subsidised renovation programmes combined with energy upgrades represent a pioneering European policy response to housing affordability challenges.
ESIF Secretary General Vasiliki Pantelopoulou said the revision reflects a strategic reallocation of European resources towards modern economic and social needs. She noted that the €500 million housing initiative will contribute to addressing housing shortages while strengthening social cohesion.
greekcitytimes.com.
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