Mitsotakis Unveils €400M Housing Blitz to Shield Youth From Soaring Rents

08:41 17/12/2025 - Πηγή: iEfimerida

Prime Minister Kyriakos Mitsotakis has announced a sweeping new housing package aimed at relieving squeezed renters and young families, stepping up state intervention in a market distorted by high costs and scarcity.

Speaking in parliament ahead of the 2026 budget vote, Mr. Mitsotakis described housing as the country’s "most pressing social challenge." 

He outlined six key

initiatives designed to boost affordable stock and curb the dominance of short-term rentals.

"The state is responding," Mr. Mitsotakis told lawmakers.

The cornerstone of the plan is a €400 million ($416 million) renovation program that will subsidize up to 90% of refurbishment costs for vacant homes, offering grants of up to €36,000 per property.

Eligibility is capped at an annual income of €35,000 for couples, plus €5,000 per child.

To support essential workers, the government will refund two months’ rent annually to approximately 50,000 teachers, nurses, and doctors serving outside Athens and Thessaloniki, regardless of their income.

Mr. Mitsotakis also declared war on "saturated" tourist zones. New restrictions on short-term rentals will extend to central Thessaloniki, while in both major cities, properties in banned zones will be automatically delisted from rental registries upon sale or transfer—forcing them back into the long-term market.

To spur private development, the government will offer tax incentives to builders who commit properties to long-term leasing for at least a decade. 

Additionally, "fast-track" planning rules will be introduced to convert abandoned buildings into residential units.

The measures, set to roll out in 2026 pending approval, come as the government faces mounting pressure to solve an affordability crisis driven by tourism and years of stagnant construction.

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Mitsotakis Unveils €400M Housing Blitz,Shield Youth From Soaring Rents