The Municipality of Tirana has announced around 1,500 new winners from applications for the social programme “On subsidising loan interest”, an important opportunity for families aiming to buy a home in the capital.
The list of applicants declared winners, whose loan interest will be subsidised from the state budget for the purchase of an apartment in Tirana, has been sent for approval at the October meeting of the Municipal Council.
The programme for subsidising loan interest, which has been implemented for several years, was one of the first initiatives of Mayor Erion Veliaj at the beginning of his term.
It aims to ease the financial burden on individuals and families with low incomes by subsidising part of the loan interest for the purchase of a home. Through this mechanism, beneficiaries can secure a home on more favourable financial terms, while the loan is repaid at an interest rate of 3%, according to the programme’s conditions.
After the list is approved by the Municipal Council, winners must present themselves at the second-tier banks with which the Municipality of Tirana has signed agreements, to continue the procedures for obtaining the soft loan for the purchase of a home.
The value of the loan each applicant receives is determined based on the number of family members and the programme’s criteria.
For many families facing difficulties in covering the high costs of housing, this programme represents a concrete opportunity to have a home of their own.