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Eurofound's EU PolicyWatch collates information on the responses of government and social partners to the COVID-19 crisis, the war in Ukraine, rising inflation, as well as gathering examples of company practices aimed at mitigating the social and economic impacts.

Factsheet for measure GR-2023-20/3248 – measures in Greece

Save/renovate my home – for young people

Εξοικονομώ - Ανακαινίζω για νέους

Country Greece , applies nationwide
Time period Temporary, 18 May 2023 – 25 September 2023
Context Green Transition, European Semester
Type Other initiatives or policies
Category Promoting the economic, labour market and social recovery
– Support for spending, stimulus packages
Author Penny Georgiadou (INE GSEE)
Measure added 29 June 2023 (updated 06 July 2023)

Background information

The Greek government on 11 May 2023, with the Ministerial Decision No 51828/761 (Government Gazette 3131/11.5.2023/ B), announced the "Save - Renovate for young people" programme, which concerns the granting of subsidies and loans to young people for interventions to a) save energy and b) renovate and upgrading their homes. The aim of the action is to save energy in the domestic building sector, reduce pollutant emissions, achieve a cleaner environment, reduce energy costs and comprehensively upgrade homes (energy-functional-aesthetic). Energy saving interventions are financed by the Recovery and Resilience Fund and interventions to renovate and upgrade houses from national funds.

Content of measure

The "Save/ renovate for young people" programme, provided by Ministerial Decision No. 51828/761 and includes two parts:

PART I - Save: granting and interest-free loans for residential energy saving interventions such as: window replacement, thermal insulation, heating-cooling systems, domestic hot water supply systems and smarthome. The maximum eligible budget per beneficiary is €25,000. The grant covers from 45% to 90% of the costs. The remaining amount is covered by an interest-free loan.

PART II · Renovate: granting and interest-free loans for renovation interventions such as: bathroom and kitchen renovation, entrance door replacement, replacement and repair of electrical, plumbing, and flooring. The eligible budget per beneficiary is up to €10,000. The grant covers up to 30% of the amount and the remaining amount is covered by a low-interest loan. For participating in the "Renovate" programme, the interested persons must already be beneficiaries of the "Save" programme.

Beneficiaries are young people aged 18-39, property owners, with a family income of up to €50,000 for their participation in the "Save" and up to €20,000 for their participation in "Renovate". The grant amount depends on the beneficiary's income.

The beneficiaries must submit an application from 18 May 2023 until 15 September 2023.

Use of measure

The programme is expected to enable 20,000 young people wishing to upgrade their energy and renovate their homes.

The total cost of the programme will cover up to €350 million, of which €200 million correspond to the "Save" programme and €150 million to the "Renovate" programme (€50 million for grants and €100 million for subsidising the loans).

Target groups

Workers Businesses Citizens
Does not apply to workers Does not apply to businesses Youth (18-25)
Disabled
Other groups of citizens

Actors and funding

Actors Funding
National government
European Funds
National funds
National Recovery and Resilience Facility

Social partners

Social partners' role in designing the measure and form of involvement:

Trade unions Employers' organisations
Role No involvement No involvement
Form Not applicable Not applicable

Social partners' role in the implementation, monitoring and assessment phase:

  • No involvement
  • Main level of involvement: N/A

Involvement

There is no any involvement of social partners

Views and reactions

There are no social partner's reactions to the measure.

Sources

Citation

Eurofound (2023), Save/renovate my home – for young people, measure GR-2023-20/3248 (measures in Greece), EU PolicyWatch, Dublin, https://static.eurofound.europa.eu/covid19db/cases/GR-2023-20_3248.html

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Disclaimer: This information has not been subject to the full Eurofound evaluation, editorial and publication process.