Why will Spiti Mou 3 increase demand further?
The new scheme relaxes eligibility compared with its predecessor. Couples with children may earn up to 35 000 euros plus 7 000 euros per child. The age limit rises to 55 years. Eligible properties may cost up to 300 000 euros and loans may reach 230 000 euros. Families with children may also select homes larger than 150 square metres. These changes enlarge the pool of potential buyers at a time when the stock of available homes is already low. Market analysts therefore anticipate continued upward pressure on transaction prices. The president of the Panhellenic Federation of Real Estate Agents, Lefteris Potamianos, told NEA that Spiti Mou 3 will follow the same pattern as the first two editions and will keep prices high for mid-market homes of 70-120 square metres. He noted that the government does not appear to be acting to curb the rises. The programme is scheduled to begin at the start of 2027 and will channel a total of 2 billion euros in loans through the banking system. Because the income ceilings, age threshold and maximum property value have all been lifted, a larger number of households will qualify. This expanded buyer base will compete for the same limited pool of eligible dwellings, reinforcing the upward price trajectory already visible in recent quarters. Potamianos emphasised that the scheme will maintain high prices in the 70-120 square metre segment without any counterbalancing measures to increase available stock. The absence of any supply-side incentives means the additional demand will land on an unchanged number of qualifying homes, pushing transaction values higher in the months after launch. Regional banks have already flagged concerns that the enlarged buyer pool could intensify competition in the mid-market segment where most programme activity is expected.
How have Greek house prices moved in 2026?
According to the Bank of Greece, national residential prices increased 5.5% year-on-year in the second quarter of 2026 and 1.3% quarter-on-quarter. The annual pace is lower than the 8.1% recorded in the same quarter of 2025, yet absolute gains remain substantial. A property priced at 250 000 euros in the second quarter of 2024 cost roughly 270 000 euros one year later and about 286 000 euros in the second quarter of 2026. Regional differences persist: Athens recorded a 5.0% annual rise, Thessaloniki 4.7%, other urban centres 5.4% and the rest of the country 7.1%. The Bank of Greece index also shows that Athens prices have doubled since the end of 2018. Annual increases are smaller than last year but continue to add thousands of euros to the cost of an average home. The data indicate that while the rate of growth has moderated slightly, the cumulative effect over successive quarters keeps pushing transaction values higher across most regions. In absolute terms the price increments remain large enough to affect affordability for many prospective buyers. The slower pace compared with 2025 has not reversed the long-term upward trend visible since 2018, particularly in the capital where the index has reached twice its late-2018 level. These figures illustrate that even modest quarterly gains compound into significant annual increases when applied to already elevated base prices.
What role does the 2007 age limit play?
Eligibility remains restricted to properties built up to 2007. Industry representatives note that relaxing this cutoff would spread demand across a wider stock. Banks that will administer the 2 billion euro loan facility have signalled they will discuss possible adjustments with the ministries of Family and Finance. The Hellenic Bank Association is expected to open talks with the competent ministries in the coming weeks so that final criteria reflect market needs. Potamianos said the market had anticipated a change in the age limit precisely because it would broaden demand. No alteration to the 2007 cutoff is currently planned, leaving the restriction in place for the launch of the scheme. The unchanged rule means that newer properties remain outside the programme, concentrating buyer interest on the older eligible stock and limiting any relief that a broader age range might have provided. Market participants had viewed a possible extension of the cutoff as the most direct way to ease pressure on the limited pool of qualifying homes. Without this adjustment the programme will continue to channel funds toward the same narrow segment of the existing housing stock.
Will the scheme address supply shortages?
The president of the Panhellenic Federation of Real Estate Agents, Lefteris Potamianos, argues that Spiti Mou 3 will not increase supply. He states that locked-up homes continue to restrict availability and create conditions of asphyxia in the housing market. He suggests the programme could instead offer loans for new construction on privately owned plots or exclude Athens and Thessaloniki to encourage decentralisation and halt further price growth in the main urban centres. The scheme’s design focuses on demand-side support without measures to unlock existing vacant stock or boost new building outside the two largest cities. By leaving the supply side untouched, the programme risks repeating the price pressures seen after the previous rounds while vacant dwellings remain unavailable to the market. Potamianos stressed that the current approach does nothing to bring locked properties back into circulation and therefore cannot ease the fundamental imbalance between buyers and available homes. Any future modification that added construction loans or geographic exclusions would require changes to the programme’s legal framework before the 2027 start date.
Frequently asked questions
When will Spiti Mou 3 begin?
The programme is scheduled to start at the beginning of 2027.
What is the maximum loan amount?
Loans may reach 230 000 euros under the revised rules.
Which properties remain ineligible?
Homes built after 2007 continue to fall outside the scheme under current plans.
How large is the total funding?
The loan envelope totals 2 billion euros, to be channelled through banks.
Will prices stop rising?
Analysts expect the combination of higher demand and unchanged supply constraints to keep prices elevated in the mid-market segment.
