"Spiti mou 2": Terms and Criteria Published - Everything you need to know about applications

The “Spiti mou 2” (My Home 2) program, with a budget of 1 billion euros, aims to support 20,000 households in acquiring their first home, strengthening housing policy in Greece. Below is everything you need to know regarding beneficiaries, criteria, and the application process.

Who are the Beneficiaries of the Program?

Beneficiaries must be aged between 25 and 50 years (as of December 31st of the application year). In the case of couples (married or with a cohabitation agreement), it is sufficient for one of the two to meet the age limit.

Additionally, income and asset criteria apply:

The minimum income is set at 10,000 euros annually, while the maximum is determined based on family status.

The average income of the last three years is taken into account if the income of the last year exceeds the maximum limit.

Beneficiaries must not own a property suitable for a primary residence.

Loan Characteristics

The program concerns exclusively the purchase of a first home with a maximum value of 250,000 euros. The loan covers up to 90% of the property value, with a maximum amount of 190,000 euros, while the remainder is covered by the beneficiary’s own resources.

The interest rate is also particularly favorable. What does this mean?

0% for the funding amount provided by the Recovery Fund.

For the part covered by the bank, the interest rate is lower than 2%.

Families with three or more children enjoy a 50% interest rate subsidy.

The repayment duration ranges from 3 to 30 years, with no grace period, while early repayment does not incur penalties.

Criteria for Properties

Properties included in the program must:

• Have been constructed by 31/12/2007.
• Not exceed 150 sq.m.
• Be acquired in full ownership and be legally existing.
• The transfer or leasing of the property is prohibited during the duration of the loan, with certain exceptions, such as relocation for work or permanent settlement abroad.

How to Submit an Application

Interested parties submit their application to a participating credit institution. If the application is rejected or if they do not receive a response within 30 days, they may re-submit an application to another bank.

The pre-approval is valid for 60 days, while the process is completed with the signing of the purchase contract and the loan agreement. The platform for applications opens in January 2024.

The deadline for inclusion in the program is December 31, 2025, with a possibility of extension provided that resources are available.

Stay informed via the websites https://greece20.gov.gr/ and https://hdb.gr/ for all official announcements, and don’t forget that you can consult our office for finding your next home or any other information!