6th February 2021, Skopje – Following the announcement of the public call for subsidized housing loan through “Buy a House, Buy a Flat” Project, citizens show much interest for the Project. Low interest rates, subsidies even up to EUR 20,000 (in Denar equivalent), additional subsidy for the monthly instalment for each newly born, as well as models for the young individuals and couples, are the reasons for the great interest for the Project.
Citizens who choose the subsidy model – monthly installment, when repaying the loan, will be calculated 2.9% interest rate in the first three years, 3.9% in the next two years, while the interest rate for the remaining repayment period is not higher than the one on housing loans offered by the bank in which they applied for the loan.
As regards this model, depending whether a new flat is bought or a house is built, bought or extended, the citizens will, for instance, for a EUR 50,000 loan, be approved a subsidy between EUR 8,500 and EUR 20,800. When buying a flat, citizens up to 35 years of age or aged 35, are extended a subsidy of 70% of the monthly installment for a period of 5 years, or they receive total of around EUR 12,000 subsidy for EUR 50,000 loan. Citizens aged 36 or older receive a subsidy of 50% of the monthly installment for the first 5 years or around EUR 8,500.
In case of building or buying a new house from an investors, citizens up to 36 years of age receive a subsidy of about EUR 20,800, i.e. 60% of the monthly installment for the first three years, 50% of the installment for the next five years and 40% for the 9th, 10th and 11th year of loan repayment. As regards house extension or superstructure, citizens up to 36 years of age will receive 50% of the monthly installment for the first three years, 40% for the next 5 years and 30% for the next 3 years of the loan repayment or total of around EUR 16,600.
When buying or building a new house, citizens aged 36 or older will receive a subsidy of 80% of the monthly installment for a period of five years or total of EUR 13,613 as subsidy, while in case of house extension or superstructure, the subsidy amounts to 75% of the monthly installment for a period of five years of the loan repayment or EUR 12,762 at the most.
Interest rate of 4%, plus 6-month Euribor, throughout the entire repayment period will be calculated for citizens having chosen the subsidy model – participation. Subsidies under this model amount even up to EUR 12,500. Citizens up to the age of 35 or aged 35, when buying or building a new house, as well as extending or superstructure of a house, will receive 100% subsidy for participation or EUR 12,500 at the most, and 70% subsidy for participation or EUR 8,750 at the most when buying a flat.
Citizens already aged 36 or older on the date of application, in case of buying or building a new house, will receive 80% subsidy for the participation or EUR 10,000 at the most, up to 75% subsidy for house extension or superstructure or EUR 9,375 at the most, while those applying for a buying a flat will receive 50% subsidy for participation or EUR 6,250 at the most.
As regards the application requirements, pursuant to the Law, total monthly income of the individual applying for subsidized housing loan should be up to EUR 900, or if married, total monthly income of both spouses should not exceed EUR 1,300. Selling price of the housing facility, including VAT, should be up to EUR 900 for a square meter, while the borrower should not posses or have a joint ownership, with the spouse, of a flat or a house. The individual or his/her spouse should not have any existing housing loan on the date of submission of the application for a subsidized housing loan. Surface area may not exceed 150 m2.
Citizens can apply in one of the following eight banks: Tutunska Banka, Stopanska Banka, Sparkasse Banka, Ohridska Banka, Stopanska Banka – Bitola, TTK Banka, ProCredit Banka and Silk Road Banka. Total of 278 housing loan applications were approved last year. Out of the total approved subsidies, 203 were under the subsidy model – monthly installment and 75 were under the subsidy model – participation. According to the loan purpose, 259 subsidies were approved for buying a new flat and 19 subsidies were approved for buying a house. Commercial banks approved total of EUR 10,595,107 as subsidized housing loans, EUR 1,508,011 being approved therefore as subsidies.
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