By the end of the year, the first tender for the construction of houses with the method of social consideration will proceed, as announced by the Minister of National Economy and Finance, Kostis Hatzidakis, speaking today at an event at the conference "Real Estate and the Greek Economy: New Paths, Prospects,  and Opportunities.".

Responding to questions, Mr. Hatzidakis said that the government is open to proposals to facilitate the licensing of real estate investments, while in the area of taxation, he reiterated that moves must be made carefully and with a view to fiscal balance.

He also cited the latest data from the National Statistical Service, according to which in the first quarter of the year, construction activity increased by 42% in terms of the number of building permits, by 38.3% in surface area, and by 25% in volume compared to the corresponding quarter of 2023. Noting that this increase is very significant, it is in principle positive news for the increase in real estate supply and a good development for the economy.

Specifically, in relation to housing policy, the minister stressed that with the method of social consideration, as applied in other advanced European countries, private individuals will undertake the construction of housing on public land for the housing of vulnerable households, beneficiaries of the DYPA, etc., along with the construction and operation of commercial premises from which they will derive revenue.

The tenders, he said, will proceed with the Fund's executive arm due to the expertise of the Fund's project maturity unit, and the first tender will be issued later this year. "These are not the old workers' housing, but modern apartments according to European standards," he pointed out.

Furthermore, discussions are ongoing with the European Commission regarding the continuation of the flagship "My House" initiative to provide low-interest housing loans to young couples with funds from the Recovery Fund, while the ministry is moving to strengthen the incentives provided by the "Renovate-Rent" programme, which did not work as expected, in order to move forward with the relevant investments.

"The housing problem certainly needs a comprehensive look and not a one-sided examination of things. The solution to address the imbalance is to increase supply," Hatzidakis stressed.

With regard to the simplification of investment implementation procedures, he said that steps have been taken—especially for strategic investments, there is a special "fast-track" licensing—but the government is open to dialogue and specific proposals for further simplification within the framework of the Constitution.