Agency for the Legal Processing and Property Mediation (APN) received 3,727 applications for subsidized housing loans until May 5th, and the agency announced on Wednesday that it will accept applications until May 14th. APN announced that it has processed 1,661 applications, with 1,616 approved, five rejected, and two applicants withdrew. For 38 applications, additional documentation is currently being requested, and banks have been provided with 735 agreements on subsidized loans signed by the agency. The application process for subsidized housing loans for the 6th round of the competition began on March 29th, and as previously announced by the Ministry of Spatial Planning, Construction and State Property, the applications will be considered in the order of receipt by APN and approved until the funding planned for this year is exhausted, amounting to 50 million Kuna. In response to a question by Hine, APN estimated that the 50 million Kuna allocated for this year is sufficient for approximately 4,230 applications. As they stated, on a sample of 1,661 processed applications, the average amount of subsidized loan is 76,620 euros, and the average repayment term is 22 years. The effective interest rate (EIR) is approximately 2.17% per annum, and the nominal interest rate (NIR) is 2.08% per annum. The average life expectancy of the user of the subsidized loan is 33 years, and the average monthly installment paid is 395 euros or 2,986 Kuna, of which 130 euros or 985 Kuna is a monthly subsidy, according to APN. APN also emphasized that applications for subsidized housing loans will be accepted until Friday, May 14th, until 16:00 hours. "They will be considered in the order of receipt of complete applications in APN, and approved until the planned budget is exhausted." They added that the announcement of the public call will be published on Friday, May 7th. A reminder that on February 26th, APN signed agreements with 14 banks on the provision of subsidized housing loans, with the maximum effective interest rates offered by banks ranging from 2.09 to 3.50% for Kunas and from 2.15 to 3.50% for euros. The call is open to all citizens under the age of 45 who do not own a flat or house. Subsidized loans are approved for purchasing a flat or house and for construction of a house up to a maximum of 1,500 euros per square meter or up to the maximum loan amount of 100,000 euros in Kuna equivalent. The repayment term of the loan may not be shorter than 15 years. The amount of the subsidy depends on the development index of the place where the property is purchased or built, ranging from 30 to 51% of the loan repayment amount. Since the start of the implementation of this measure, excluding this round, a total of 17,510 subsidized housing loans have been approved or are being implemented, with approximately 430 million Kuna paid from the state budget for the measure. It should be noted that the Croatian Parliament modified the Law on the Subsidization of Housing Loans late last year, and the APN will publish public calls for subsidies until the end of 2023. With the amendments, it is now regulated that applicants for these loans must have their residence address registered on the address of the purchased or built property for at least two years after the end of the subsidized loan. It has also been regulated that subsidies will be rejected by applicants who have already received them on an earlier occasion, and that the paid funds do not need to be repaid if the subsidized flat or house is sold for the purchase of a larger flat, house, or construction of a house. Source: HINA, www.n1info.com'

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