New €500 million Housing Renovation Program — Subsidy from 70% to 95% through NSRF

Contemporary open living space under renovation, with natural light, wood flooring and island kitchen, while craftsmen work on cabinets and fixtures inside.

The completion of the mid-term review of the NSRF Programs 2021-2027 paved the way for one of the most ambitious housing renovation programs announced in Greece. The new program concerns the renovation of private old houses with a mild energy upgrade, and has a total budget of approximately 500 million euros — an amount that has already been committed through resource allocations from 14 different Programs of the NSRF 2021-2027.

The action aims twofold: on the one hand, to increase the supply of housing for low and middle incomes — households that cannot cover renovation costs on their own. On the other hand, in the energy upgrade of the country’s building stock, responding to the new European priorities for climate adaptation and sustainable housing.

Beneficiaries — Who are subsidized

The action is aimed at households with low and medium incomes who do not have the necessary resources to renovate and utilize their property.

Increased subsidy rates are provided for people with a disability, three children, many children, single-parent families, young people aged 25–35, as well as for properties located in mountainous and island areas.

The program covers both categories of old properties:

  • “Closed” houses — properties that remain idle
  • “Open” homes — homes that are already used as a primary residence and meet specific criteria

This is a significant difference compared to previous programs, which only subsidized closed properties.

The subsidy starts from 70% and reaches 95% of the cost of the works. The higher rates apply to vulnerable categories of beneficiaries and properties in disadvantaged areas described above.

Elective Tasks

Unlike past programs that focused solely on energy upgrades, the new action will fund general renovations — from painting, plastering and plumbing changes to jobs with a soft energy footprint, such as insulation and window replacement.

The program is still in the funding announcement stage — the official call for applications and platform are expected in the near future. espa.io will inform you as soon as the application opening date and detailed eligibility criteria are announced.

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