Better conditions introduced for 'Buy a House, Buy a Flat' project

The government is introducing new legal changes to improve the conditions for the project "Buy a House, Buy a Flat" in connection to increasing the total income of a family to take part in the project, inheritors of an ideal part of a property to be able to buy a house or an apartment and offering the possibility of selling a flat in order a bigger house to be purchased and a house to be sold in order a bigger flat to be purchased.

"Three significant changes are introduced - the monthly income of a family or an individual allowing participation in the project is increased from 900 to 1.300 euros," Finance Minister Zoran Stavreski stated Thursday.

The second change, he added, offers an opportunity to those who have inherited an ideal half or less than a half of a property to be able to take part in the project without previously selling their inherited part.

With respect to the third change, until now those interested in selling their flat to buy a bigger one or replacing their house with a bigger one had a chance to apply. Under the latest changes, an apartment can be replaced with a bigger house or a house with a bigger flat, according to the minister.

"With the latest changes to the project, the needs of the citizens are being met as certain situations are being solved in a bid to improve the conditions for the project inviting more and more people to participate," Stavreski said.

The project is being implemented amid a huge interest from the citizens. "243 applications have been approved so far estimated at 1.5 million euros of state subsidies," he noted.

"I expect the introduced benefits to raise the number of families that will settle their housing issue through this project," Minister Stavreski said in relation to the new changes to the law on subsided apartment loans.