Greek Prime Minister Kyriakos Mitsotakis used his address to Parliament during the debate on the State Budget to announce a series of significant policy initiatives targeting housing affordability, Swiss franc loan holders, and farmers. The announcements were described as some of the most substantial interventions of the current parliamentary term.
Six new measures to tackle the housing crisis
At the centre of the Prime Minister’s speech were six new measures aimed at easing the housing shortage and reducing pressure on renters. The flagship initiative is a large-scale renovation program worth €400 million, covering up to 90 per cent of renovation costs for closed or ageing properties, with subsidies reaching up to €36,000. Income thresholds will extend to €35,000 for couples, with additional allowances per child.
Public sector workers posted outside Athens and Thessaloniki, including teachers, doctors and nurses, will now receive a refund equivalent to two annual rents, regardless of income. Additional measures include the conversion of public buildings in regional and island areas into staff housing, tighter restrictions on short-term rentals, tax incentives for private investment in affordable rental housing, and fast-track planning approvals to convert abandoned buildings into residences.
Relief for Swiss franc loan holders
Addressing a long-standing financial issue affecting approximately 50,000 borrowers, Mr Mitsotakis announced forthcoming legislation to convert Swiss franc-denominated loans into euros. The new framework will include low, fixed interest rates, potential debt write-downs based on assets, and repayment extensions of up to five years.
The Prime Minister said the move would eliminate currency risk and provide predictability for households that have struggled with exchange rate volatility for more than a decade.
€160 million support package for farmers and livestock producers
On agriculture, Mr Mitsotakis called for a cross-party parliamentary committee to develop long-term solutions for the primary sector. Earlier, Finance Minister Kostis Hatzidakis confirmed an additional €160 million support package.
The funding includes €80 million for livestock producers across mainland and island Greece and €80 million for cotton and grain farmers. Additional measures involve fuel tax refunds at the pump, reduced electricity costs through DEI initiatives, and expanded ELGA insurance coverage. Total agricultural payments for the year are expected to reach €3.8 billion.
