‘First House’ – restructured as of February 15

The ‘First House’ program will be extended under the current form until February 15, under Wednesday’s government resolution, after which a restructured formula will be implemented, with greater emphasis being put on construction of new dwellings, Mediafax reported Premier Emil Boc as announcing at Victoria Palace.

‘As we speak, the program allows the purchase of any type of dwelling – from zero, to red to immediate possession. The data we have so far show that over 85 per cent of the 11,500 dwellings bought are ready for possession, and more than two-thirds of the buyers are in the 30-to-40 years old age group,’ the PM said.

However, the National Credit Guarantee Fund for Small and Medium-sized Enterprises, which unfolds the programme, has ceased accepting ‘First House’ dossiers from banks, as government was yet to pass a normative act on the sums to be provided this year. Since the program kicked off six months ago, 11,500 mortgage application have been approved with a total value of nearly EUR 485 M, of which 380 mortgage pledges equal to EUR 16.5 M for dwellings under various stages of construction. Last December, ministerial sources said government would provide collateral amounts equal to EUR 550 M, or more than half than this year’s ceiling, to fund the ‘First House’ program, with the overall budget to be completed later in the year, up to the one billion euro ceiling in 2009. Regional Development and Tourism Minister Elena Udrea also said yesterday that she plans to have the National Housing Agency build 100,000 homes for young people. She added that these houses might be included in the ‘First House’ programme.

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