Applications for the project "Buy a House, Buy a Flat" can be submitted as of Wednesday (Jan. 25). The government expects citizens to show great interest in the project, which enables them to solve one of the most essential issues - purchasing a home.

The project is a resumption of government's active measures and policies aimed at solving the housing issue and supporting thousands of citizens on the matter, Prime Minister Nikola Gruevski told a joint press conference on Tuesday with Vice PM and Finance Minister Zoran Stavreski and representatives of the banks involved in the project.

He called on the citizens to seize the opportunity and to provide information on conditions for applying.

According to Vice PM Stavreski, applications will be submitted to banks by March 1. The first credits are expected to be paid in early April. The project is intended for all citizens, especially for families on a low-income.

A campaign will be launched in all major cities in Macedonia in order the citizens to be better informed on the project.

Bankers have agreed that the project is "beneficial for young people wishing to buy homes." According to them, the advantage is that banks will attract many clients and get assistance in tackling negative effects from the crisis, while also providing support for the sector of construction.

The project enables a credit to be obtained for purchasing an apartment or a house. There are two options. One option, the so called "50/50 installment", offers the government to provide finances for half of the monthly installment of the home loan for five years. The second one - "equal participation" - the state will pay 50% of the credit. Those citizens willing to use the first or second model need to meet several conditions - the credit to be less than 50.000 euros with a payment deadline of 20 years, their incomes to be less than 900 euros and the values of the flat or house not to be more than 900 euros per square meter.

Applications can be submitted in Stopanska Banka Skopje, NLB Tutunska Banka, Ohridska Banka, Sparkasse bank, TTK bank, Alpha bank, ProCredit bank and Stopanska Banka Bitola.