Interventions for the housing crisis seem to have been locked by Maximos with the Prime Minister, Kyriakos Mitsotakis, at the 88th TIF announcing a set of measures on how the real estate market can be relieved.
According to information from “OT”, the solution that seems to favor Maximos and concerns the stimulation of real estate supply is the further tax reductions for owners, specifically those who have closed properties and those who want to return from long-term leases to short-term ones.
The government adopts an older proposal by POMIDA that provides for a 100% tax exemption if the income comes from a new lease of a residence of at least three years
In particular, a three-year tax exemption on rental income is being considered for owners who will make their vacant properties available for rent or those they have on short-term leases
Essentially, the government adopts an earlier proposal by POMIDA which provides for a 100% tax exemption if the income comes from a new lease of a residence of at least three years’ duration, as long as the residence is leased to natural persons for use as their main residence and was vacant at least throughout the year 2023 or had active AMA short-term rental on 31.12.2023.
In the “war” and I am renovating-renting it
In the “arsenal” of the government there are two more tools to get more properties on the market. The reason for the “Renovate-Rent” program which will be relaunched with the subsidy increasing to 60% from the current 40%.
Homeowners with an annual income of up to 40,000 euros and real estate up to 300,000 euros can participate in the program, while those who have joined energy saving or renovation programs for any of their properties in the last five years are excluded.
The property must have an area of up to 100 sq.m. and located in an urban area, it must not have been declared as a first residence, or as rented but listed as vacant in the E2 of the last three years.
Those joining the program are subsidized for repair and renovation costs up to 10,000 euros.
Social housing is coming
By the end of 2024, the social compensation program will also start. The goal of the program is the construction of 2,500 social houses for 5,000 beneficiaries
Already the first ten plots of land of DYPA as written by OT are ripe for utilization so that the first social housing can be built there. These are plots both within Athens and in the periphery, Xanthi, Larissa.
The concession of the undeveloped plot will be made by DYPA and the contractor will be selected through a tender
DYPA will grant the undeveloped plot, for which the contractor will be selected after a tender, who will undertake to construct modern residential and commercial buildings, based on the specifications provided for in the notice.
My house 2
Changes to the design as well as to the financing are planned in the “My Home 2” program.
The new plan that will start in January 2025 will provide – in relation to the original -, expanded age limits for beneficiaries from 30-50 years old, as well as expanded income criteria, up to 40,000 euros.
Source: ot.gr
#Closed #houses #tax #years #open #Mitsotakis #package #provide #TIF
