Greece plans €2 billion Home III scheme with loans of up to €230,000
Greece’s planned “My Home III” programme is expected to launch around late December 2026, offering subsidised first-home loans of up to €230,000 and potentially supporting around 15,000 families. Proposed changes include higher age and income limits, more expensive eligible properties and additional time for buyers to complete their purchases.
Greece is preparing a new €2 billion housing loan programme, “My Home III” (Spiti mou III), designed to help households purchase their first home through low-interest financing.
According to a report published by Greek newspaper Empros on October 19, the programme is expected to begin around the end of December 2026. It is planned to expand eligibility compared with the previous “My Home II” scheme and give beneficiaries more time to find a suitable property and complete a purchase.
Ismini Papakyrillou, chief executive of the Hellenic Development Bank (HDB), said the new programme would provide greater flexibility for property searches and purchases, although the precise additional timeframe has not yet been specified.
People who were unable to purchase a property through My Home II are also expected to be eligible to apply for the new scheme, subject to its final conditions.
€2 BILLION IN FUNDING
The planned programme is expected to support approximately 15,000 families through subsidised loans for first-home purchases.
The €2 billion funding package is expected to comprise:
- €500 million from loans under the Recovery and Resilience Facility.
- €500 million from the Hellenic Development Bank’s available funds.
- €1 billion from participating financial institutions.
The scheme is intended to reduce borrowing costs by combining state-supported interest-free financing with bank lending.
HIGHER AGE AND PROPERTY PRICE LIMITS
The proposed eligibility criteria would be more generous than those under My Home II.
Key changes outlined in the report include:
Age limit: Increased to 55 from 50.
Eligible property value: Raised to €300,000 from €250,000.
Maximum loan: Increased to €230,000 from €190,000, with financing of up to 90% of the property’s commercial value.
Income thresholds for families with children: The allowance would increase to €7,000 for each child, compared with €5,000 under the previous scheme.
Single-parent households: The reported threshold would be €39,000, plus €7,000 for each child after the first.
Larger families: The eligible floor-area limit would be expanded beyond the existing 150-square-metre threshold, adding 10 square metres for each child above four.
The final eligibility requirements and implementation details remain subject to official confirmation.
HOW THE INTEREST SUBSIDY WOULD WORK
Under the proposed financing structure, 50% of each eligible loan would be interest-free through state funding, while the remaining 50% would carry interest through bank financing.
Families with three or more children would receive a higher interest subsidy, bringing the subsidised share to 75%, according to the report.
The arrangement is intended to make first-home purchases more affordable by lowering the effective cost of borrowing, although applicants would still need to meet the programme’s eligibility requirements and lenders’ assessment criteria.
MY HOME II BACKGROUND
The previous My Home II programme approved 15,097 loans worth a combined €1.82 billion, with an average loan of €120,400.
A total of 14,114 loan agreements were signed, amounting to €1.54 billion. According to the figures reported by Empros, signed agreements represented 93.5% of approved applications.
The proposed third phase would build on that programme while widening access to households that may have been excluded by the earlier age, income or property-price limits.
