APN collects bank offers for subsidized loans, call for citizens in September

The Agency for Legal Transactions and Real Estate Mediation (APN) has announced a call for collecting offers for the conclusion of contracts for the provision of subsidized loans, inviting all credit institutions that can perform lending activities in the country to submit an offer for entering into a contract with the Republic of Croatia.

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According to the statement from the Ministry of Construction and Spatial Planning published on Friday, the offer obliges credit institutions to perform activities under the conditions and in the manner specified by the Law on Subsidizing Housing Loans or under conditions that are more favorable for the loan user or the Republic of Croatia than those prescribed by the Law.

Offers must be submitted no later than August 6, 2018, by 2 PM, and their public opening will take place on the same day, also at 2 PM, at the APN premises.

The amendments to the Law adopted on June 29, 2018, enabled further subsidization of housing loans for young people, every calendar year until December 31, 2020. A public call to citizens for this calendar year is planned to be announced in September.

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Citizens residing in the Republic of Croatia who meet the conditions for obtaining a housing loan set by the credit institution, who are not older than 45 years, and who, or whose spouse, life partner, or informal life partner, do not own an apartment or house, or who own only one apartment or house which they are selling to purchase a larger apartment or house, or for the construction of a house for their own housing needs, will be able to apply for subsidization of housing loans.

Subsidization of loans will be granted for the purchase of an apartment or house, or for the construction of a house up to a maximum of 1,500 euros per square meter in kuna equivalent according to the average exchange rate of the Croatian National Bank, or up to the maximum loan amount of 100,000 euros in kuna equivalent according to the average exchange rate of the Croatian National Bank on the day of loan disbursement, and whose repayment period must not be shorter than 15 years.

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The amount of the subsidy will depend on the index of development of the place where the property is purchased or built and will range from 30 to 51 percent.