Romanian Govt Cuts Subsidy For Residential Construction Through Mortgage Loans

Romania's Government has decided not to subsidize the construction of homes through mortgage loans, arguing that budget revenues are insufficient to continue support for this program, and will limit the benefit to applications already filed.

47 views

Imaginea articolului Romanian Govt Cuts Subsidy For Residential Construction Through Mortgage Loans

Romanian Govt Cuts Subsidy For Residential Construction Through Mortgage Loans

The decision was made through an emergency ordinance.

The subsidy is equal to 30% of the building's construction costs, but no more than the lei equivalent of EUR15,000 or the mortgage loan's value.

The program is run through the local administration, with the subsidy provided by the Ministry of Development.

The ordinance also says the state has been so far unable to refund the local authorities for the subsidies they provided for residential construction.

If you liked this story, please follow MEDIAFAX.RO on FACEBOOK »

The content of mediafax.ro is for your information only. Republishing or using this content is forbidden without express consent of MEDIAFAX. For this consent, please ask for it by mail at vanzari@mediafax.ro.

 

The free download of the press materials (text, photo and / or video), bearers of intellectual property rights, is approved by www.mediafax.ro only within 250 signs. Spaces and URL / hyperlink are not taken into account when counting signs. The collection of information can only be done in accordance with the terms agreed and mentioned here