As many as 5,550 dwellings purchased through First Home programme in Moldova in first three months of 2021

Chisinau, 23 March /MOLDPRES/ - As many as 5,550 dwellings have been bought through the First Home governmental programme three years after the programme’s launch. The overall sum of the loans provided by banks is of 2.8 billion lei and the total value of active guarantees is of 1.4 billion lei.  

According to the Finance Ministry, the First Home state programme was launched on 21 March 2018 and on this period, the compensations provided from the state budget for partially covering the expenses borne by its beneficiaries stood at 42.3 million lei.

As many as 990 out of all beneficiaries enjoy compensations from the state budget within the First Home programme 2, 2,401 – within the First Home programme 3, 790 – within the First Home programme 4 and 15 – within the First Home programme 5.

A number of 3,822 out of all beneficiaries are families and 1,728 are young unmarried people. The average age of the applicants is 31 years. The average value of the dwellings bought is 605.16 thousand lei. As many as 5,078 out of all dwellings are flats and 472 – houses.   

The First Home is a nationwide programme which gives young people possibility to borrow mortgage loans on easy terms and the state provides guarantees to banks instead of the beneficiary. Thus, the beneficiaries enjoy a repayment period of up to 25 years, limited bank commissions, low banking rates, as well as diminished state taxes. In these conditions, a larger number of low income citizens can have access to mortgage credits.    

Besides these advantages, some of the programme’s beneficiaries can ask for compensations from the state budget. Thus, the families with many children can benefit from assistance on behalf of the state worth from 10 to 100 per cent of the cost of the mortgage loan, depending on the number of children in the family and the public sector employees can benefit from help on behalf of the state worth 50 per cent of the loan’s value.   

Any Moldova’s citizen with ages between 18 and 50 years, who is officially employed at a state institution or private company from Moldova and has incomes from official sources, can be beneficiary of the First Home governmental programme.

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