First House program pre-contracts accepted until February 15, Govt decides

The Romanian state will pledge the guarantees for house sale contracts under the First House programs which will register pre-contracts by February 15, according to prime minister Emil Boc. The program will be modified after that so that it will include the sale of new housing as well. This could give a much needed boost to the new residential market in Romania, which has seen stalling sales last year, as the current form of the First House programs only covers old apartments. The current state guaranteed threshold is of EUR 60,000 for old apartments. The state is not subsidizing the price of apartments, but rather offering a guarantee so that banks lend this sum to buyers.

Corina Saceanu