The “New House” became operational by publishing the Methodological Norms at the end of last week.
In a previous article, we presented the new ordinance for the implementation of the „New House” program, which replaced the „First House” program of 2009, that became „A family, a house” in April 2020.
On Friday, August 21st, 2020, the Methodological Norms were published in the Official Gazette, so the program became operational.
There are 2 categories of financing available:
- for new homes, completed or consolidated no later than 5 years before the submission of the application for financing
- for old houses completed or consolidated more than 5 years before the application for financing
For new homes, the state guarantees a maximum of 60% of the loan with a maximum value of EUR 140,000 and a minimum value of EUR 70,001. In this case, the minimum amount of the advance is 15%.
For old homes, the state provides a state gurantee for a maximum of 50% of the loan with a maximum of value of EUR 70,000. For these homes the minimum amount of the advance is 5%.
The houses thus financed will not be able to be alienated for 5 years.
According to Eurostat data, approximately 96% of the Romanian population lives in houses they own, the highest percentage in the European Union, the average percentage being about 70%. By comparison, in Germany the percentage is about 51%.
