The novelty compared to the eponymous project implemented four years ago, will be the more favorable conditions for obtaining housing loans as well as lower interest rates.
The previous project, which was being implemented in 2010, offered the interest rate of 4.9 percent. Good news for citizens who do not yet own an apartment is certainly the much lower rate of 3.99 percent, and the repayment period of up to 20 years, which remained unchanged.
As the daily found, negotiations were finalized with representatives of the Council of Europe Development Bank (CEB) regarding a ten million euros loan for this project, the details of whose conditions will be published by the Ministry of Sustainable Development and Tourism, likely by the end of next week.
Law on Budget for 2015 envisaged a loan for the 1000+ project, which was not the case the year before.
Housing will be offered to around 500 Montenegrin citizens. Total project value is around 20 million euros.
During the first project, apartments were offered at a price of 600 to 2.000 euros per square meter, depending on the investor and the municipality in which the apartment was located. Total number of submitted applications in all banks that participated in the project amounted to 1.100. Central part of the country accounted for 75 percent of the applications, while 25 percent were handed over in the northern and southern municipalities. Under terms more favorable than those of the regular housing and banking market, 433 apartments were purchased by citizens who were free to choose both the bank and the investor.
