The Greek Ministries of Labor and Finance are expected to co-sign a framework to establish a rental subsidy plan for more than 300,000 families having low incomes.
Applications for the new program will be submitted online, and the Greek Government‘s electronic Center for Social Security (IDIKA) is preparing the system to receive the expected large amount of applications.
The rental subsidy plan will be implemented along with a new program which will protect homeowners’ primary residencies from being put on the auction block if the owners cannot pay their mortgages.
However, the specifications on this latter project have not yet been ironed out. This is unfortunately having the effect of delaying the initiation of the rental subsidy scheme, which was scheduled to begin on January, 1, 2019.
The rental scheme has a budget of €300 million ($340 million) per year, with the Greek Labor Ministry having already secured the money for 2019. The subsidy which will go to the families who cannot pay their mortgages is expected to cost between €100 and €150 million ($113 – $169 million).
According to the Labor Ministry, the monthly payment to these households will vary between €70 and €210.