Introduction
Greece has officially announced a new housing programme, “Spiti Mou 3”, aimed at helping more individuals and families purchase their first home through low-interest mortgage financing.
The programme is expected to launch in early 2027 and will have a total budget of approximately €2 billion.
Compared with “Spiti Mou 2”, the new programme introduces several important changes, including a higher age limit, increased property value limits, larger maximum loan amounts and expanded income criteria for families with children.
These changes are intended to make the programme accessible to a broader group of potential homebuyers while responding to the continued increase in residential property prices across Greece.
For buyers planning to purchase their first home in 2027, understanding the new eligibility conditions will be particularly important.
This guide explains what has been announced so far about “Spiti Mou 3”, who may qualify, what type of property can be purchased and how the new programme differs from its predecessor.
1. What Is the “Spiti Mou 3” Programme?
“Spiti Mou 3” is the third version of Greece’s subsidised housing loan programme designed to support the purchase of a first home.
The programme will offer low-interest mortgage loans through participating financial institutions, with part of the financing supported by public funds.
According to the government’s official announcement, the programme will have a total budget of €2 billion.
The financing structure is expected to include:
- €500 million from Recovery and Resilience Facility loan resources.
- €500 million from the cash reserves of the Hellenic Development Bank.
- €1 billion from participating credit institutions.
The main objective is to help households that may otherwise find it difficult to purchase a home under normal mortgage conditions.
2. Who Will Be Eligible for “Spiti Mou 3”?
One of the most important changes compared with “Spiti Mou 2” is the expansion of the age limit.
Under the new programme, eligible applicants will be able to participate up to the age of 55, compared with the previous maximum age of 50 under “Spiti Mou 2”.
This means that a larger group of potential buyers may become eligible for subsidised financing.
The programme is expected to continue focusing on the purchase of a primary residence, meaning that applicants will need to satisfy requirements relating to their housing situation and financial circumstances.
Will applicants need to be first-home buyers?
The programme is specifically intended to support the purchase of a first home.
Based on the structure of previous “Spiti Mou” programmes, applicants are generally required not to own another property considered suitable for their housing needs.
The exact definition and detailed eligibility rules for “Spiti Mou 3” will be confirmed when the final programme framework is published.
3. What Will the Maximum Property Value Be?
Another major change concerns the value of properties that can qualify under the programme.
Under “Spiti Mou 2”, the maximum commercial value of an eligible property was €250,000.
With “Spiti Mou 3”, this limit is expected to increase to €300,000.
This change is particularly important because residential property prices have increased significantly in many parts of Greece.
The higher limit could allow buyers to consider a broader range of properties, particularly in markets such as Athens and Thessaloniki where finding suitable homes below €250,000 has become increasingly difficult.
4. How Much Can You Borrow Under “Spiti Mou 3”?
The maximum loan amount will also increase.
The programme is expected to finance up to 90% of the commercial value of the property, while the maximum loan amount will rise from €190,000 under “Spiti Mou 2” to €230,000 under “Spiti Mou 3”.
This means that buyers will still need to contribute part of the purchase price using their own funds.
For example, if an eligible property is valued at €250,000, the programme could potentially finance a large proportion of the purchase price, subject to the applicant’s creditworthiness and the bank’s approval.
The exact loan amount available to each borrower will depend on factors such as income, property value and the lending assessment performed by the participating bank.
5. What Are the New Income Limits?
The government has also announced more generous income limits for families with children.
For couples, the previous framework allowed an annual income limit of €35,000 plus €5,000 for each child.
Under “Spiti Mou 3”, the additional amount per child is expected to increase to €7,000.
For single-parent families, the announced limit is expected to reach €39,000 plus €7,000 for each child beyond the first.
This expansion is intended to allow more families to qualify for the programme, particularly households that were previously just above the income thresholds.
6. What Properties Will Be Eligible?
The property itself must also meet specific eligibility requirements in order to be purchased through the “Spiti Mou 3” programme.
One of the most important changes already announced is the increase in the maximum commercial value of an eligible property.
Under “Spiti Mou 2”, the maximum value was €250,000.
With “Spiti Mou 3”, this limit will increase to €300,000.
This could give buyers access to a wider selection of homes, particularly in areas where residential property prices have increased significantly in recent years.
What about the size of the property?
The general framework currently provides for eligible homes of up to 150 square metres.
However, “Spiti Mou 3” introduces an important expansion for larger families.
Families with more than four children will be allowed an additional 10 square metres for every child beyond the fourth.
For example, a family with five children could potentially qualify for a property of up to 160 square metres, while a family with six children could potentially qualify for up to 170 square metres.
Will newly built properties be eligible?
The detailed property eligibility rules for “Spiti Mou 3” still need to be finalised.
Recent reporting indicates that the existing age requirements for eligible properties are expected to remain, but buyers should wait for the official programme guide before treating these conditions as final.
This is particularly important when searching for a property specifically with the intention of using subsidised financing.
7. What Changes for Large Families?
Families with children are among the groups that benefit most from the expanded criteria announced for “Spiti Mou 3”.
Two important changes concern income limits and property size.
For couples, the income framework will allow an additional €7,000 for each child, compared with €5,000 previously.
For single-parent families, the announced threshold is €39,000 plus €7,000 for each child beyond the first.
At the same time, larger families will have access to bigger eligible properties.
The standard 150-square-metre limit will increase by 10 square metres for every child beyond the fourth.
These changes recognise that larger households generally require both more living space and greater financial flexibility when purchasing a primary residence.
8. How Is “Spiti Mou 3” Different From “Spiti Mou 2”?
“Spiti Mou 3” expands several of the main limits that applied under the previous programme.
The most important announced differences are:
- Maximum age: increases from 50 to 55.
- Maximum property value: increases from €250,000 to €300,000.
- Maximum loan: increases from €190,000 to €230,000.
- Financing: remains available for up to 90% of the commercial value of the property.
- Families with children: receive higher income allowances.
- Large families: may qualify for properties larger than 150 square metres, depending on the number of children.
The changes are significant because they expand both the number of potential applicants and the range of properties that could potentially qualify.
For buyers in Athens and Thessaloniki in particular, the increase in the maximum property value from €250,000 to €300,000 could make a meaningful difference when searching for an eligible home.
9. When Will Applications for “Spiti Mou 3” Open?
The programme is expected to begin in early 2027.
The official government announcement does not yet provide a specific application opening date.
Therefore, buyers should distinguish between the announcement of the programme and its actual launch.
Before applications can begin, the detailed implementation framework will need to establish the complete eligibility criteria, application procedure, participating financial institutions and documentation requirements.
Should buyers start looking for properties now?
Potential applicants can start researching the market and understanding what type of property may fit their budget.
However, committing to a property specifically because it is expected to qualify for “Spiti Mou 3” requires caution until the final eligibility rules are published.
A property that falls below the €300,000 value limit does not automatically mean that it will satisfy every requirement of the programme.
10. What Should Buyers Do Before Applying?
Buying a property through “Spiti Mou 3” will involve more than simply meeting the programme’s basic age and income requirements.
Applicants will also need to satisfy the lending criteria of the participating bank.
This means that eligibility for the programme does not automatically guarantee approval of the requested mortgage.
Calculate the available budget
Although financing may cover up to 90% of the property’s commercial value, buyers should expect to contribute their own funds toward the purchase.
For example, the maximum loan under the new programme will be €230,000.
Therefore, purchasing a property at the maximum eligible value of €300,000 does not mean that the entire remaining amount will automatically be financed.
Buyers should calculate their available personal capital as well as the additional expenses associated with a property purchase.
Check the property before committing
The property should be examined not only for programme eligibility but also from a legal, technical and financial perspective.
Buyers should verify ownership documentation, planning and building information, property condition and any issues that could affect the purchase or mortgage approval.
This is particularly important because finding an eligible property does not necessarily mean that the bank will accept its valuation or approve financing for the amount requested.
Prepare the required documentation
The final list of documents for “Spiti Mou 3” has not yet been published.
However, applicants should expect documentation relating to income, family status, property ownership and financial circumstances to form part of the eligibility and mortgage assessment.
The exact requirements will become clearer when the official application framework is released.
FAQS
Who can apply for “Spiti Mou 3”?
The programme is designed to help individuals and families purchase their first home through subsidised mortgage financing.
The maximum age for applicants will increase to 55, expanding eligibility compared with “Spiti Mou 2”.
Applicants will also need to meet the income, property ownership and banking criteria that will be specified in the final programme framework.
What is the maximum property value under “Spiti Mou 3”?
The maximum commercial value of an eligible property will increase to €300,000, compared with €250,000 under “Spiti Mou 2”.
This could provide buyers with access to a broader selection of properties, particularly in areas where residential prices have increased.
What is the maximum loan amount?
The maximum loan amount announced for “Spiti Mou 3” is €230,000, compared with €190,000 under the previous programme.
Financing may cover up to 90% of the commercial value of the property.
Does “Spiti Mou 3” cover 100% of the property price?
No.
The programme may finance up to 90% of the property’s commercial value, subject to the maximum loan amount and the bank’s lending assessment.
Therefore, buyers will need their own funds to cover part of the purchase price as well as other expenses associated with the transaction.
Can I buy a €300,000 property with a €230,000 loan?
Potentially, provided that both the applicant and the property satisfy all programme and banking requirements.
However, because the maximum loan is €230,000, a buyer purchasing a €300,000 property would need to cover at least the remaining €70,000 from other funds, before taking additional purchase expenses into account.
What is the maximum size of an eligible property?
The general maximum size is expected to be 150 square metres.
For families with more than four children, this limit will increase by 10 square metres for each child beyond the fourth.
For example, a family with five children could potentially purchase a property of up to 160 square metres.
Will income limits be higher under “Spiti Mou 3”?
Yes. The announced changes expand the income criteria, particularly for families with children.
For couples, an additional €7,000 per child will be taken into account, compared with €5,000 under the previous framework.
The announced limit for single-parent families is €39,000 plus €7,000 for each child beyond the first.
Do I automatically receive a mortgage if I qualify for the programme?
No.
Meeting the programme’s eligibility requirements does not automatically mean that a bank will approve the mortgage.
Participating financial institutions will still assess factors such as the applicant’s income, repayment capacity and creditworthiness, as well as the property itself.
Can I apply if I already own another property?
“Spiti Mou 3” is intended to support the acquisition of a primary home.
The detailed rules regarding existing property ownership and what constitutes a property suitable for an applicant’s housing needs will be determined by the final programme framework.
Applicants who already own property should therefore check the official eligibility criteria once they are published.
When will “Spiti Mou 3” start?
The programme is expected to launch in early 2027.
However, a specific application opening date has not yet been officially announced.
Can I apply for “Spiti Mou 3” now?
No. The programme has been announced, but applications have not yet opened.
Potential buyers can use this period to evaluate their finances and research suitable properties, but they should wait for the final official programme rules before assuming that a specific property or applicant will qualify.
Are all the rules of “Spiti Mou 3” final?
No. Several key changes have been officially announced, including the increased age limit, property value and loan limits.
However, the complete implementation framework and detailed eligibility requirements still need to be published.
For this reason, some conditions may become clearer or change when the final programme documentation is released.