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State should not finance residential property developments

published in issue 4554 page 9 at 2009-11-06

The state should stop allocating money for the construction of residential buildings and the Ministry of Development is already working on a draft law regulating a public-private partnership system engaging constructors, municipalities and banks, Ministry Director Gheorghe Popescu stated yesterday. ‘No other government build homes anywhere in the world,’ ex-head of the National Housing Agency (ANL) Gheorghe Popescu stated at a press conference.

He added that the financing of residential developments from the state budget could not possibly resolve the housing issue Romania had. Popescu also said the Ministry of Development was working on a draft law setting up ‘an entity’ made up of construction companies, municipalities and banks that would become operational in the entire country in 2010. He said the state would subsidise selected loan interests and provide the land for the residential developments.

Popescu also said that over 6,000 new homes would be delivered in 2009, 3,400 of which have been developed through ANL, 1,400 of which were social homes and 1,300 of which were for the tenants of nationalized houses. Moreover, the MD official expects 25,000 apartments to be insulated by the end of the year, much less than the planned 35,000 units indicated about two weeks before by an official from the same ministry, Secretary of State Ioan Andreica, and also compared with the authorities’ target – 43,000.

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