The new “Renovate 2026” program will be implemented in two phases, entering its implementation phase and bringing significant changes both to eligible expenses and energy upgrade repairs, as well as the regulation for rent “freezing”.
The program represents one of the key government interventions to address the housing crisis and the shortage of available rental properties. The total program budget amounts to 500 million euros and aims to cover approximately 20,000 homes built up to 1990.
The goal is to return thousands of apartments that have remained closed for years to the market, providing financial incentives to property owners to utilize them while simultaneously increasing the supply of housing during a period of high rents and intense housing pressure.
“Renovate 2026”: When the application platform opens
Although the pre-screening platform will be operational at the end of May through gov.gr, the new “Renovate 2026” program will begin in practice after the summer, as final applications for home renovation subsidies will open from September 1st, 2026.
The program targets owners of closed properties and provides subsidies that can reach up to 36,000 euros, under the condition that the property returns to the long-term rental market. According to statements by Deputy Finance Minister Nikos Papathanasis, the platform for checking eligibility criteria is expected to open by the end of the month. Interested parties will be able to verify if they meet the necessary participation requirements.
The two phases of the “Renovate 2026” program
The first phase will concern “closed” properties, for which the subsidy will involve two conditions: 1) at least 5 years of property rental after its upgrade and 2) three years of rent “freezing”.
The second phase will concern owner-occupied properties, whose owners will have the opportunity not only for energy upgrades but also repairs, in a 20/80 ratio.
The subsidy can reach up to 95% of expenses, with “caps” at 300 euros/sq.m., up to 120 sq.m., and a total amount per beneficiary of 36,000 euros. Currently, it is estimated that approximately 900,000 homes remain outside the market.
Required documentation
Two basic documents that must be issued during the summer will play a decisive role in program inclusion. The first is the Energy Performance Certificate (EPC), issued by a certified energy inspector after property inspection. The second is the Electronic Building Identity, the complete digital file of the property, issued through the Technical Chamber of Greece by a qualified engineer.
What work the program subsidizes
Unlike previous energy upgrade programs, “Renovate 2026” covers broader renovation interventions and not just energy work. According to the Finance Ministry’s planning, only 20% of total expenses must concern energy upgrades, while the remaining amount can be allocated for kitchen and bathroom renovation, interior work, repairs, and general functional interventions in the property.
The subsidy is expected to reach up to 300 euros per square meter, with a maximum total amount of 36,000 euros for homes up to 120 square meters.
Which homes can be included in the program
The program concerns homes with building permits up to the end of 1990 that have remained closed for at least three years. Property inactivity will be proven through electricity consumption data and cross-checks from relevant services.
Approximately 400,000 closed apartments in the country, according to economic team estimates, could theoretically be included in the measure, however the first phase of the program is expected to cover approximately 15,000 to 20,000 property owners.
Income limits
Specific financial criteria have been set for program participation, specifically, annual income must not exceed 25,000 euros for single people and 35,000 euros for married couples, while a 5,000 euro increase is provided for each child.
Additionally, the applicant must own at least 50% of full ownership or usufruct of the property to be included in the program.
Obligations for subsidy recipients
Program beneficiaries cannot keep the property closed after renovation, as the basic condition is its availability for long-term rental. The ministry plans to impose a ceiling on rent amounts, while the first lease must last at least three years. If the tenant leaves earlier, the owner will be obligated to proceed with a new lease for the remaining period without rent increases.
