Photo by Yiannis Hadjiaslanis

A number of measures to face the problems of the historical center of Athens were announced on 15 May 2011, by the Greek Goverment. The main points include incentives for young people to move to the city's center, as well as measures regarding citizens' safety and immigrants' issues. Particular emphasis is given to the restoration of safety and legitimacy to the Centrer of Athens.

For the areas Gerani, Kerameikos and Metaxourgeio tax incentives were announced, for rehabilitation and modernization of buildings. Specifically, regarding the area of ​​Kerameikos Metaxourgeio:

1. Tax exemption for the cost of repairing buildings. It will be deducted from the income tax due, over a decade, 80% of the total cost of rehabilitation and renovation of the property to residential use (for projects to cost 500€ per square meter).

2. Similar arrangements, but with different levels of cost per square meter, have been announced regarding ground floor shops, public spaces and facades of buildings, as well as property used as offices.

3. A similar arrangement is made for the renovation and restoration of listed buildings. That is, deduct each year 1/10 of total recovery cost and up to 2.000€ per square meter.

See here the "Action Plan for the City of Athens" (pdf in Greek).