Romanian government approves Prima Casa 2018 program for first time home buyers

The Romanian government has approved the Prima Casa 2018 program for first time home buyers. The ceiling for guarantees that can be issued for 2018 as part of the Prima Casa program stands at RON 2 billion, according to a government  decision. 

The government also decided that the maximum interest margin was reduced from 2.5 percent to 2 percent.  The decision to reduce the maximum interest margin was taken to correlate the provisions on the total cost of the guaranteed financing for the purchase of dwellings and for the construction of dwellings, in order to avoid any discrimination in this regard.

Prima Casa is a nationwide scheme designed to support first time home buyers who have not taken a mortgage yet. According to a statement issued by the National Credit Guarantee Fund for Small and Medium-sized Enterprises (FNGCIMM) in May 2017, the program reached a record number of applications, with more than 600 new requests being made daily.