Labour and Social Affairs Minister Kostis Hatzidakis and Minister of State Akis Skertsos announced on Friday in a press conference that applications for the granting of low-interest housing loans to young people will start to be accepted on Monday, April 3.
The programme concerns young people or young couples aged between 25 and 39 years old, who meet the conditions for participation in the programme.
According to the announcement, 5,000 loans will be granted to an estimated 10,000 beneficiaries, given that they will be couples or families.
In practice, those who join this programme will pay a loan installment that will be much lower than the rent corresponding to the house they have chosen, as the interest rate will correspond to a quarter of commercial rates and three quarters will be interest-free, while the interest rate will be zero for families with three or more children.
Also, a ceiling of 200,000 euros has been placed on the value of the residence that the beneficiaries can purchase, while there will be no guarantor of the loan.
Based on the conditions set out, the houses for which the young people will be able to get a loan must not exceed 150 square metres and must be at least 15 years old.