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A:
Construction of low-cost houses to start end of July
Belgrade,
26 March 2010
Minister of Environment and Spatial Planning Oliver Dulic and representatives of eight banks signed agreements on the regulation of relations concerning subsidised interest rates for housing projects.
Speaking at a press conference after signing agreements with Komercijalna Banka, VolksBank, UniCredit Bank, Raiffeisen Bank, Banca Intesa, AIK Banka, Metals Banka and Erste Bank, Dulic said that the flats will be sold at a price of €1,290 per square metre.
Construction will start at the end of July or beginning of August. At the moment there is a great deal of interest in the building sector in the construction of 500,000 square metres of residential space in all cities, said Dulic.
It is possible that the Belgrade Land Development Public Agency will start negotiations with banks regarding the construction of 5,000 flats in Vozdovac as early as next week, he said.
The Ministry will make efforts to obtain a permit for building at the proposed location. It is hoped that people will begin to make payments for the flats as soon as construction starts, the Minister said.
He said that the state will subsidise an interest rate of up to 7%, while the rest, depending on terms put forward by the banks, will be covered by the construction company applying for the funds.
In order to speed up the procedure, construction companies will be given the green light for construction works as soon as they receive a permit for the construction site, the Minister said recalling that a construction licence will be required before the building is connected to infrastructure and, naturally, before it is completed.
Dulic said that flats will be cheaper than ever, noting that he expects citizens’ purchasing power to go up in the months to come, which will enable them to buy their own flats.
The programme for financing this large-scale flat construction aims to stimulate the construction industry and the property market, help reduce the price of flats and enable citizens to buy flats under favourable terms.
Construction will start at the end of July or beginning of August. At the moment there is a great deal of interest in the building sector in the construction of 500,000 square metres of residential space in all cities, said Dulic.
It is possible that the Belgrade Land Development Public Agency will start negotiations with banks regarding the construction of 5,000 flats in Vozdovac as early as next week, he said.
The Ministry will make efforts to obtain a permit for building at the proposed location. It is hoped that people will begin to make payments for the flats as soon as construction starts, the Minister said.
He said that the state will subsidise an interest rate of up to 7%, while the rest, depending on terms put forward by the banks, will be covered by the construction company applying for the funds.
In order to speed up the procedure, construction companies will be given the green light for construction works as soon as they receive a permit for the construction site, the Minister said recalling that a construction licence will be required before the building is connected to infrastructure and, naturally, before it is completed.
Dulic said that flats will be cheaper than ever, noting that he expects citizens’ purchasing power to go up in the months to come, which will enable them to buy their own flats.
The programme for financing this large-scale flat construction aims to stimulate the construction industry and the property market, help reduce the price of flats and enable citizens to buy flats under favourable terms.
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