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Romania Might Allow Housing Agency To Sell Homes Within State-Guaranteed Home Buying Program

Romania’s Development and Tourism minister Elena Udrea said Friday she will propose amendments to the law regulating the country’s’ Housing Agency ANL to allow purchases of ANL-built homes with state-guaranteed loans.
Romania Might Allow Housing Agency To Sell Homes Within State-Guaranteed Home Buying Program
12 feb. 2010, 12:46, English

„We plan to introduce in next week’s Cabinet meeting a series of propositions amending the Housing Agency law to allow tenants of ANL homes to buy them via the First Home program,” Udrea said during a seminar.

She added other proposed changes to the law aim to reduce the mandatory renting period before purchase is allowed to one year instead of the current three.

„The sale price of ANL homes will start from the price at which we build them now. Of the 25,000 ANL homes rented , we hope to sell 20,000 in the next two years and thus bring about EUR500 million to the state budget,” Udrea said.

The First Home program, introduced mid-2009, allows homebuyers to get state-guaranteed mortgage loans. The government earmarked EUR700 million for such guarantees this year.