The countdown has begun for the activation of the renewed “Renovate – Rent” program, offering subsidies up to 95% of renovation costs and aimed at utilizing thousands of vacant homes to increase housing market supply. Depending on the applicant household category, the new “Renovate-Rent” program provides enhanced subsidies that generally exceed 80% of renovation costs, creating a strong incentive for property owners.
It is estimated that this program, funded with 500 million euros, will renovate 15,000 to 20,000 homes. The initiative is expected to increase the availability of housing that consisted of old and deteriorated buildings due to owners’ inability to maintain them, consequently bringing them to market and helping reduce rental price pressures. According to available information, the program will include properties at least 20 years old that have remained vacant for at least three years, while for the first time, it allows participation of homes that are currently occupied but considered unsuitable for living and require substantial renovation.
The maximum funding amount for “Renovate – Rent” can reach 36,000 euros, with subsidies calculated at 300 euros per square meter, while the program launch is scheduled for late May to early June.
“Renovate – Rent”: covered renovation works
The initiative covers homes up to 120 square meters, with works including improvements such as kitchen and bathroom renovation, window and door replacement, floor repairs, and overall functional upgrades of spaces.
Unlike previous programs, energy efficiency upgrades are not the sole focus but are integrated into a broader framework of interventions. Specifically, renovation will cover 60% – 80% of total expenses, while energy upgrade works will account for 20% – 40%.
Program target groups
Enhanced subsidies will be available for specific groups, including single-parent families, young couples, families with three children, large families, and people with disabilities, aiming to facilitate easier access to quality housing.
Increased support also applies to young people aged 25 to 35 years, as well as properties in mountainous and island regions. The program targets households with low and middle incomes who lack the necessary funds for renovation. Income criteria will correspond to those of the “My Home 2” program, and to receive the subsidy, applicants must either rent the renovated property for at least five years or use it as their primary residence for the same period.
