Renovating Your Greek STR Property 2026: Exoikonomo Grants and AMA Implications

Renovating Your Greek STR Property 2026: Exoikonomo Grants and AMA Implications

The Exoikonomo-Anakainizo programme managed by the Greek Ministry of Environment and Energy (YPEN) offers grants of up to 60% of renovation costs for energy upgrades to Greek residential properties. With a total budget of 1.8 billion EUR for 2025-2027, it is the most significant renovation subsidy available to Greek property owners. If your property operates as a short-term rental with an AMA registration, this guide explains how to apply, what happens to your AMA during and after works, and how an energy upgrade justifies a higher nightly rate.

Exoikonomo-Anakainizo 2026: Programme Overview

Exoikonomo-Anakainizo (Save and Renovate) is administered through the myPraso platform (mypraso.gr). Applications are submitted online using TaxisNet credentials. The programme is open to owners of residential properties with an energy performance rating of Class C or below. Properties used as short-term rentals are eligible, provided the applicant can demonstrate ownership via the ATAK cadastral identifier and a current E9 declaration.

Grant percentages range from 30% to 60% based on the applicant's annual taxable income as declared on the E1 return. For STR owners, the reference income is the E1 taxable figure, not gross STR revenue. This is important: even if your Greek property earns significant STR income, the grant rate is calculated on your broader E1 income, which may qualify you for a higher grant band.

Grant Rates by Income Band

Annual taxable income (EUR)	Grant rate	Max eligible project cost	Max grant
Up to 15,000	60%	25,000 EUR	15,000 EUR
15,001 - 25,000	50%	25,000 EUR	12,500 EUR
25,001 - 40,000	40%	25,000 EUR	10,000 EUR
40,001 - 60,000	30%	25,000 EUR	7,500 EUR
Above 60,000	Not eligible	-	-

Eligible Works for STR Properties

• External wall insulation: cost typically 30-60 EUR per square metre. Reduces heating and cooling costs substantially in Mediterranean climate.
• Window and door replacement: double-glazed units with thermal break frames. Cost 300-600 EUR per window. Dramatically reduces summer cooling loads.
• Air-to-water or air-to-air heat pumps: replacing oil or gas boilers. Cost 5,000-12,000 EUR. Particularly valuable for island properties where oil delivery is expensive.
• Solar thermal water heaters: cost 1,500-3,000 EUR. Standard upgrade for Greek properties with high hot water usage from guests.
• Photovoltaic panels: eligible when combined with other energy measures. Grid connection on most Greek islands is straightforward.
• Smart energy management systems: eligible when combined with at least one other energy measure.

Non-eligible works include: interior layout changes, swimming pool construction or enlargement, furniture replacement, kitchen cabinet renewal, or any works that change the building's legal use classification.

How Foreign Owners Can Apply for Exoikonomo

Foreign owners of Greek property can apply for Exoikonomo grants, provided they meet the following prerequisites:

• Active Greek ΑΦΜ: required to log in to myPraso via TaxisNet. If you do not have a ΑΦΜ, obtain one through the ΔΟΥ Κατοίκων Εξωτερικού at Metsovou 4, Athens, or through the Greek consulate in your home country.
• Greek IBAN bank account: grant payments are made exclusively by SEPA transfer to a Greek IBAN. A Greek bank account is mandatory to receive the payment. Opening a Greek bank account as a non-resident typically requires: valid passport, ΑΦΜ, proof of property ownership (notarial deed). Major Greek banks (Alpha Bank, Piraeus Bank, Eurobank) accept non-resident applications in branch. Budget 1-2 working days in Athens to open the account in person.
• Current E9 declaration: your E9 must list the property you wish to renovate. If you recently purchased and have not yet filed E9, file it before applying. E9 is filed through myAADE annually; mid-year additions are submitted as a corrective declaration.
• Energy Performance Certificate (ΠΕΑ): issued by a licensed Greek energy inspector, costs 200-350 EUR, valid for 10 years. The ΠΕΑ must show current energy class (C or below to be eligible) and proposed class after works.

Remote Management of the Renovation Project

Most UK, Australian and US owners renovating Greek properties cannot be physically present throughout the project. Practical recommendations for remote management:

• Appoint a Greek architect or project manager: cost 8-15% of project value. Provides a local point of contact for the contractor, processes payment milestones and submits completion documentation to myPraso.
• Use a power of attorney: grant your architect or lawyer (δικηγόρος) a limited power of attorney (ειδική πληρεξουσιότητα) covering renovation-related decisions, contractor payments and grant administration. A notarised PoA with apostille issued in your home country is accepted by Greek notaries.
• Contractor selection: use contractors registered in the Exoikonomo approved supplier list (available on mypraso.gr). Grant payments are tied to invoices from registered contractors. Unregistered contractors are not eligible.
• Payment flow: you pay the contractor the full project cost upfront (or in agreed milestones). After completion and documentation submission, the grant is paid retroactively to your Greek IBAN by the programme administrator. Expect 3-6 months between project completion and grant receipt.

What Happens to Your AMA During Renovation

Your AMA registration remains valid and active during renovation works, provided the legal use of the property does not change. Energy upgrades (insulation, windows, heat pumps, solar panels) do not change the building's legal use classification. You can continue accepting bookings for periods that do not overlap with active works.

If renovation involves structural changes that alter the number of bedrooms, total floor area or the number of sleeping places, you must modify your AMA registration on myAADE within 30 days of works completion. Navigate to Μητρώο Βραχυχρόνιας Διαμονής, select Τροποποίηση Υπάρχουσας Εγγραφής (Modify Existing Registration) and update the relevant fields. Airbnb and Booking.com listings must also be updated to reflect the new bedroom count or capacity.

Note that changing the energy performance class does not require AMA modification, but it is good practice to update your listing description to highlight the improved energy class. An upgrade from Class D to Class B is a marketable feature: it signals lower utility costs to guests and justifies a higher nightly rate.

Fire Safety Requirements Under Law 5170/2025

Law 5170/2025, Articles 8-10 mandates fire safety requirements for all AMA-registered properties regardless of whether they have been recently renovated. Following a renovation, AADE or the Fire Service may inspect to verify that new materials comply with safety standards. Key requirements:

• Smoke detectors in every bedroom and living area: battery-operated or hardwired. Replace per manufacturer guidance or every 10 years maximum.
• At least one fire extinguisher (2 kg CO2 or dry powder) in the kitchen or main corridor. Professional inspection every 2 years.
• Clear emergency exit signage (luminescent), particularly in properties with non-standard layouts.
• Guest safety guide posted in the property in Greek and English covering emergency exits, fire extinguisher location and emergency numbers.

If your renovation included electrical work or panel replacement, obtain a new Electrical Safety Certificate (ΥΔΕ, Υπεύθυνη Δήλωση Εγκαταστάτη) from the electrician and keep it on file in the property for at least 5 years.

Cost-Benefit Analysis for Foreign Owners

Consider a 60 square metre Athens apartment, energy class D. Renovation cost for insulation, windows and heat pump: 22,000 EUR. Grant at 50% for an owner with E1 taxable income of 20,000 EUR: 11,000 EUR. Owner contribution: 11,000 EUR. Outcome: property upgraded from Class D to Class B.

Revenue impact: upgraded properties command a 10-20 EUR higher nightly rate justified by lower guest utility costs, better summer temperature control and improved comfort. At 80 nights per year (conservative for Athens) that is 800-1,600 EUR additional annual revenue. Owner contribution payback period: 7-14 years from revenue uplift alone, but the property's resale value typically increases 8-15% for a two-class energy upgrade, which for a 200,000 EUR Athens apartment represents 16,000-30,000 EUR of additional capital value.

Application Process: Step by Step on myPraso

• Step 1: Obtain current Energy Performance Certificate (ΠΕΑ) from a licensed inspector. This is your eligibility baseline document.
• Step 2: Open Greek bank account if you do not already have one (required for grant receipt).
• Step 3: Register on mypraso.gr with TaxisNet credentials. Enter property ATAK and ΠΕΑ number.
• Step 4: Submit application with the renovation plan prepared by your Greek architect, including proposed works, cost estimates and target energy class.
• Step 5: Await approval (typically 4-8 weeks). Do not commence works before receiving formal approval.
• Step 6: Execute works using Exoikonomo-registered contractors. Collect invoices and completion certificates.
• Step 7: Submit completion documentation and post-works ΠΕΑ through myPraso. Grant paid to your Greek IBAN within 3-6 months.

For questions about AMA compliance after renovation, contact the HostReady team via our contact page. For the AMA registration guide, see Greece Airbnb Registration 2026: Guide for Foreign Owners.