“Home 2”: The program is driving increases in property prices

Real estate experts in Kathimerini report price increases of up to 20% for properties that meet the criteria of the “My Home 2” program.

Although the program is set to launch in early 2025, it has already pushed the prices of eligible properties to €200,000. Consequently, the prices of non-eligible properties (e.g., newer or larger ones) have also risen.

This increase is driven by owners’ expectations that property values will rise due to the strong demand the program is expected to generate.

To qualify for the program, properties must have a maximum value of €250,000, a size of up to 150 square meters, and a construction year no later than 2007.

real estate expert notes that many properties ineligible for the program—those built after 2007, larger, and more expensive—have also seen price increases. The logic is that if an older property is priced at €200,000, a newer one should be worth €250,000.

This has led to other side effects, with some non-eligible properties priced well above their actual value. According to the report, bank appraisers have, in some cases, declined to approve financing due to the significant price discrepancies.