It is a matter of days to open the platform “Renovate – Rent” which is supposed to open more houses, increase their number and reduce the price of rents. That’s on paper. Besides, nothing guarantees that the “renovated” apartments and houses will be rented at lower rents.
Except that all this is up in the air as nothing guarantees that their prices will also decrease.
What does “Renovate – Rent” provide
The “Renovate – Rent” program aims to increase the number of houses available for rent and not directly to reduce the cost of rent.
Those who apply and join the scheme will receive a subsidy of up to 4,000 euros to renovate a closed house of up to 100 m2, which they must then rent for a period of at least three years.
The program covers 40% of the total amount of the renovation with a maximum expenditure limit of 10,000 euros and a maximum subsidy limit of 4,000 euros.
The program concerns a maximum of 12,500 residences which have been closed for the last three years and will be renovated to be available immediately after on the long-term rental market.
It will not affect prices
However, the amount in itself is minimal if you calculate it LIGHT and the taxes but also the cost of renovation.
For example, relatives or even parents will be able to take the money and rent continuously, for example to their children, or their nieces and nephews for a particularly low (perhaps fake) rent, without this of course having a positive effect on the reduction of rents. There is also no restriction as to the degree of kinship of the natural person to whom the house can be rented.
Nothing substantial in essence is expected since from one h golden visaon the other hand the Airbnb they leave no room for optimism.
Her own estimates Bank of Greece they do not leave room since he believes that there will be no de-escalation. On the contrary, an upward trajectory is predicted and the program will follow the other program’s “patratrack”. “My house”.
The Bank of Greece report notes that demand will be strong from abroad for investment but will also drag down secondary categories, i.e. housing.
And all this, according to the same report, is due to increased inflation, increased construction costs, while interest rate conditions push investors to seek greater profit from real estate.
All this refutes the Minister of Social Cohesion and Family Sophia Zacharakis which in her statements stated that she is “another “weapon” in our housing policy and in the battle to reduce rent prices.”
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Kyriakos, remember when in 2016 you called for elections after a double defeat!
#RenovateRent #Ado
