Poland to launch subsidized mortgage program even in mid-2013
October 16, 2012
Polish governemnt wants to introduce a new subsidies mortgage program for young people by mid 2013 or early 2014 at the latest, with initial cost at PLN 600-700 million and eventual cost at PLN 1 billion annually, Transport and Construction Minister Slawomir Nowak told a news conference.
The subsidy will amount to 10% of standardized cost of purchasing 50 sqm in a region, for apartments not larger than 75 sqm bought on the primary market. Additionally, families will get further 5% if they have at least one child and further 5% if a third is born in a family with at least two children in 5 years since the purchase of the flat, the minister said.