This will enable Croatian citizens who are not older than 45 years and who, respectively, their spouses or non-marital partners do not own a flat or house, or who own only one flat or house that is being sold for the purchase of a larger flat or house, or for the construction of a house due to their own housing needs to resolvetheir housing issue under more favorable conditions.
The repayment of the housing loan is facilitated for the first four years, so the Republic of Croatia, through the Agency for Legal Transactions and Property Mediation (APN), pays half of the total installment or annuity to the credit institution in advance for the current calendar year.
It provides the possibility of additional extension of the term for subventing the loan, in the event that the applicant or a member of their family household has a disability of at least 50%, for one year, respectively, for two years for each live-born or adopted child in the period of subventing the loan.
The maximum loan amount to be subvented and the applicable interest rates are defined and they include the following:
The maximum amount of the loan to be subvented will not exceed 1,500.00 €/m2, respectively, the total maximum amount of the price of the flat or house will not exceed 100,000.00 €, including value-added tax, and the repayment period will not be less than 15 years (which, on average, gives a size of a flat or house of 66 m2). The housing loan and the price per m2 of the net usable surface of the flat or house can be higher, but in that case the difference will not be subsidized.
In accordance with the law, the effective interest rate (EIR) on the housing loan for the first four years of its repayment cannot be higher than 3.75% per annum, and after the first four years of repaying the loan, it may be increased by a maximum of 10% of the effective interest rate determined for the first four years of repayment for the next two years.
The subvention of loans does not apply to the purchase of a flat or house, or the construction of a house built within the framework of social housing programs for which the Republic of Croatia provides public guarantee funds.

Considering that funds are limited, it is expected that a maximum of 1500 loans will be realized, therefore all interested parties should react immediately, so that they will be prepared by the start of the program realization, expected around August 20, 2017.

If you are interested in this incentive measure, please contact us immediately and we will help you in the realization!

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More information on: Final proposal of the Law on Subvention of Housing Loans Source: http://www.mgipu.hr/default.aspx?id=47687

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