Romanian Govt Cuts Subsidy For Residential Construction Through Mortgage Loans

The decision was made through an emergency ordinance.

The subsidy is equal to 30% of the building’s construction costs, but no more than the lei equivalent of EUR15,000 or the mortgage loan’s value.

The program is run through the local administration, with the subsidy provided by the Ministry of Development.

The ordinance also says the state has been so far unable to refund the local authorities for the subsidies they provided for residential construction.