Young people to get special housing loans

The government is expected on Thursday to announce the details of a new loan program with almost zero interest for the purchase of a first home by young people and couples up to the age of 39, as the prime minister announced last weekend.

Labor and Social Security Minister Kostis Hatzidakis said on Wednesday that the first 500 million euros will be disbursed at once, with the overall scheme including a bundle of measures amounting to €1.7 billion for more than 100,000 beneficiaries.

“The €375 million will be supplied by the Public Employment Service and will be interest-free, while banks will put in 25%,” Hatzidakis explained.