Skopje, 14th January 2016 (MIA) – As of tomorrow, the citizens can apply for the “Young Individuals and Couples Housing Project”. Today, the Parliament adopted the amendments to the Law on Subsidized Housing Loans, thus creating conditions for implementation of this Project.
– This Project will provide for great support to young individuals in the Republic of Macedonia for resolving one of the key life-related issues, that being acquiring own home, which is a basis for forming a family and achieving progress in life. Therefore, we believe that such Project is necessary and that huge interest will be expressed therein. The first contacts we made with the citizens point out to a great interest by the young individuals following the adoption of this Law, i.e. as of tomorrow, the citizens can apply for the respective Project. I expect for young individuals in the Republic of Macedonia to show great interest therein, Deputy Prime Minister and Minister of Finance, Zoran Stavreski said.
“Young Individuals and Couples Housing Project” is intended for people who are 35 years old at the most, having no their own home, offering more favourable loan terms and conditions than the “Buy a House, Buy a Flat” Project, i.e. it provides for young individuals to be extended higher subsides, as well as to be subsidized for a longer period of time in case they are extended a loan for buying, construction, superstructure or extension of a house under this Project.
As Deputy Prime Minister Stavreski pointed out, young individuals are offered two options through the “Young Individuals and Couples Housing Project”. First option envisages subsidizing 80% of the monthly installment – principal and interest for a period of eight years and 50% thereof in the remaining three years, whereby the maximum amount of the loan may be EUR 50,000.
– If the monthly installment amounts to EUR 200, the Government will pay EUR 160, while the citizens will pay only EUR 40 in the first eight years. While as for the next three years, both the Government and the citizen will pay equal monthly installment in the amount of EUR 100 each, Stavreski said.
Interest rate is set for the first five years – 3.95% in the first three tears, and 4.44% in the fourth and fifth year. Furthermore, the interest rate is set by the respective bank, however it must not be higher than the interest rates on the regular loans for flat or house of the bank.
As for the second option, in case the person has no sufficient funds to be extended a housing loan, his/her participation will be 100% subsidized by the Government, i.e. EUR 12,500 for a loan of EUR 50,000. Interest rate under this model is fixed, 6-month EURIBOR plus 4.5% per year throughout the loan repayment. All funds allocated by the Government are grants under the requirement for not alienating the house throughout the loan repayment, Deputy Prime Minister Stavreski said.
Requirements for applying for the Project is for the applicant to be 35 years old at most, as well as not to possess another flat or house or if married, for none of the spouses to possess a flat or house on his/her name. If it is a matter of a person not being married, his/her monthly earnings should be lower than EUR 900, or if it is about a married couple, their income should be lower than EUR 1.300. Project is aimed at all those wanting to build a new house, buy a house by authorized legal entities or extend a house at the location of the existing house owned by their parents and similar. The loan should be extended for a period of at least 20 years.
Interested citizens may submit the applications in one of the eight banks participating in the Project – NLB Tutunska banka, Stopanska banka, Stopanska banka Bitola, Sparkasse, Ohirdska Banka, TTK Alfa and ProCredit Banka.
SDSM accepted the proposed amendments, however the Members of the Parliament asked for all citizens to be eligible to apply for this Project.
– We asked for this legal solution to apply to all citizens wanting to be extended a loan and resolve their housing issue. It is only in this way that we could have helped a significant number of citizens to resolve their housing issue, Nikolov said, adding that the young individuals up to 35 years working in private companies for small salaries, part-time employees and similar are not eligible to apply therefor.
According to him, what is a positive thing is the fact that the subsidizes are higher in relation to the previous “Buy a House, Buy a Flat” Project.
Krste Mukovski from VRMO-DPMNE stressed that the purpose is to help young people. – This law is aimed at those who need it the most, those who have not resolved the fundamental issue, those who should get married and form a family. It is aimed at increasing the number of families having many children, reducing both the emigration process and the migration from rural areas, Mukovski said.
Vladanka Avirovic from SPM pointed out that this step-forward Project is a result of the experience on the field, which showed that most of the citizens up to 35 years receive monthly income and meet the requirements to build a superstructure or to independently build their own home.
According to Vlatko Gorcev from VMRO-DPMNE, this is a good and affirmative project that should be welcomed. – We adopt a measure, which has not existed before and which offers additional benefits in relation to the “Buy a House, Buy a Flat” Project.