Skopje, 22nd January 2013 (MIA) – So far, 110 citizens have been extended subsidized housing credit through “Buy a House, Buy a Flat” Project, including subsidies in the amount of EUR 640,000 from the Government, Ministry of Finance announced. Highest share of subsidies in the amount of EUR 10,048 were given to citizen who were extended subsidized housing credit in the amount up to EUR 50,000 through the 50/50 installment model.
Ministry of Finance explained that, in this case, installment is in the amount of EUR 329 in first three years, EUR 164 out of which is paid by the citizen to whom the credit was extended, and the remaining EUR 164.5 is paid by the Government. In the next two year, monthly installment is EUR 343.91, and the Government provides for EUR 171.95 for each installment.
Vesna Atanasoska, who was extended subsidized housing credit in June, says that thanks to this Project, she has decided to buy her own flat, rather than to pay EUR 200 for renting a flat each month.
– This is an assistance unheard of. I pay only Denar 7,500 each month, while the remaining Denar 7,500 of the monthly installment is paid by the Government. I have been renting a flat for seventeen years and paying EUR 200, which sums up to more than EUR 40,000. Finally, after 17 years, thanks to this Project, I have decided to buy my own flat, and with the assistance the Government provides, I have money to pay the bills, to furnish the flat and for other needs, Atanasovska, single parent of two, said.
Citizens make additional saving through the interests as well, whereby the saving ranges between EUR 2,000 and EUR 3,000. At the moment, interest on housing credits offered by the banks ranges, in average, from 6.2% to 6.5% for the first three years, and from 7.5% to 8.5% for the remaining repayment period, while interest on subsidized housing credits are fixed for the first five years, i.e. 4.99% for the first three years and 5.49% for the fourth and the fifth year.
Gligor Bisev, Stopanska Banka CEO, said that the good in this Project was that interest on subsidized housing credits would remain the lowest on the market even after the fifth year. – Stopanska Banka will continue to participate in the Project this year as well. Interest rates in the first five years are guaranteed, being 4.99% in the first three years and 5.49 in the fourth and the fifth year. Following the fifth year, level of interest rates will depend on EURIBOR trends. However, taking into account that European Central Bank announces that interest rates will remain at the present level, as well as the expectations that these credits will be regularly repaid, since it is a matter of buying first flat, we expect, even after the fifth year, for interest rates to be more favourable compared to the interest rates on regular credits, Bisev explaind.
Government has announced new public call for competition this year, for the citizens to be able to apply for subsidized housing credits by 31st May.