The European Commission's DG Competition has approved an interest subsidy scheme for housing loans concluded between January 1, 2022 until December 31, 2023 and concern the purchase or construction of a primary residence for families with an annual income of 50,000 euro, Government Spokesperson Konstantinos Letymbiotis said on Tuesday.

Speaking during a press briefing at the Presidential Palace, Letymbiotis said that the DG Competition has decided that the scheme does not contain any element of state aid, either to the credit institutions that will participate or to the natural persons who are the final beneficiaries and therefore it can be applied.

The Spokesperson said that 'targeted, substantial measures to support households are at the heart of the government's policies."

The scheme will have an annual fiscal cost estimated at €20 million and the subsidy will cover a period of 2 years and will amount to 50% of the interest rate increase between the date of the loan agreement and the date of payment of the subsidy, with a maximum subsidy amount of 2 percentage points.

He also said that beneficiaries are households with an annual family income of up to 50,000 euro who have taken a housing loan of up to 400,000 euro during the period 1/1/2022 to 31/12/2023, provided that it is a performing loan.