The first 40 vacant public homes in Thessaloniki are currently being renovated and will be rented out immediately, with subsidies, to socially vulnerable groups through Greece’s first social rental agency, the Greater Thessaloniki Urban Development Organization (MATH), according to Kathimerini.
Due to the housing crisis, affordable homes for vulnerable groups were limited (even with subsidies), prompting MATH to conduct a study with Aristotle University of Thessaloniki (AUTH). The study identified over 77,000 properties without electricity since 1995 that remained vacant, 47.8% of which were residential.
MATH then identified the organizations that owned these properties, aiming to persuade them to lease the homes for a period of time.
The project “Social Housing for the Most Vulnerable Groups” is funded by the Recovery Fund and is being carried out by MATH.
To achieve this, a four-year rental guarantee was offered, while the renovation of the property was handled by the team through a grant secured from the Recovery Fund (€13,000 per house).
The homes will be provided with a social rent, calculated based on the property’s objective value rather than market prices. The first 30 homes are expected to be delivered immediately, with the remaining 10 to follow shortly.
The tenants will be beneficiaries of the “Housing and Employment” program, which supports individuals and families who are either homeless or living in insecure housing conditions. The program subsidizes their rent for 24 months, with the possibility of an additional 1+1 years of housing assistance.
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