New homes for 9,000+ people
More than 5,500 young individuals or young couples aged up to 39 years have already acquired their first home through the “My Home” program. In total, 9,149 young people have been included in the program, for loans totaling 909 million euros, of whom 68% have a declared annual income below €24,000.
This practically means that under other circumstances, if the Public Employment Service (DYPA) program did not exist, it would be very difficult for young workers who declare a low income to get a loan in order to own their own home.
Given the conditions of the program, these residences are on average 90 square meters, with the average amount of loans amounting to €96,700.
As DYPA Director Spiros Protopsaltis points out to Kathimerini, the success of the program lies in the fact that it was targeted at young people with low incomes, who thanks to the utilization of the reserves of the former state housing organization have got their own house.
Low-interest or interest-free housing loans were given via the program to young people for the acquisition of a first home through participating credit institutions. The budget of the program was initially €500 million and increased to €1 billion, of which €750 million is from DYPA and the rest from banks.
