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Attica Bank Addresses "My Home II" Housing Shortage with 780 Property Offering

Attica Bank partners with Resolute Cepal Greece to offer up to 780 properties for the "My Home II" program, addressing property sourcing challenges, with 150 immediately available and incentives like low-interest rates and a dedicated search platform offering over 22,000 options.

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Greek

Greece

EconomyOtherReal EstateMortgagesAttica BankGreek Housing MarketHomeownership Program

Attica BankResolute Cepal GreeceAsk WireVoltonΤμεδε

Ελένη ΒρεττούΚωνσταντίνος ΔηλαράςΣτέλιος ΗλιάδηςΠαύλος Λοΐζου

What immediate steps are banks taking to address the housing shortage affecting the "My Home II" program?: Attica Bank is collaborating with Resolute Cepal Greece to offer up to 780 properties for sale to beneficiaries of the "My Home II" program, aiming to alleviate the difficulty of finding suitable housing. 150 properties are immediately available, with the rest expected within the next six months.
What are the potential long-term effects of this initiative on the Greek housing market and Attica Bank's financial performance?: Attica Bank projects an 18% increase in mortgage loans by 2025 and a doubling by 2027 due to this initiative. The bank offers incentives such as low-interest rates (0.80% + Euribor), free legal and technical inspections, and a dedicated property search platform with over 22,000 eligible properties.
How does Attica Bank's partnership with Resolute Cepal Greece aim to benefit both the program's beneficiaries and the bank itself?: The partnership addresses the challenge of sourcing properties for the "My Home II" program, which faced €290 million in unallocated funds in its first iteration. This collaboration leverages existing properties owned by funds and aims to increase Attica Bank's presence in the mortgage market.

Cognitive Concepts

2/5

Framing Bias

The framing is largely positive towards the Attica Bank's initiative. The article highlights the bank's efforts to facilitate access to housing through its program and partnerships. While the challenges of the "My Home II" program are mentioned, the overall tone emphasizes the bank's proactive solutions and the potential positive impacts. The headline (if there was one) likely would reinforce this positive framing.

Sustainable Development Goals

Reduced Inequality Positive

Direct Relevance

The program aims to alleviate housing problems, contributing to reduced inequality by providing access to housing for those who otherwise struggle. The partnership between Attica Bank and other entities increases the availability of affordable housing options, potentially benefiting lower-income individuals and families. The provision of preferential loan terms and support services further enhances this positive impact.

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