The Government has adopted a new benefit under the project 'Buy a House, Buy a Flat', offering non-repayable subsidizing of 50 percent of the participation for housing loans, the Ministry of Finance said on Monday.

The amendment is valid for both old and new loans. Now citizens may get non-repayable funds of EUR 10.000 for purchasing a flat or EUR 15.000 for building a house.

"This is a chance of a lifetime for those who have some, but not sufficient amount of money, to acquire own home. In case of purchasing a flat the state grants EUR 9.200 for a housing loan of EUR 50.000. For construction of a house, when the state covers 75% of the participation, a beneficiary will get EUR 15.000 for a loan of EUR 50.000," the ministry said in a press release.

The benefit is valid for loans with reimbursement period of over 10 years.

The so-called Fifty – Fifty shared instalment model is also attractive, as in that case the beneficiary will pay less than a monthly rent.

An instalment under this model for a loan of EUR 50.000 is at EUR 330, out of which EUR 82 is an obligation of the beneficiary, while EUR 250 is covered by the state in the first five years. All of those who pay a rent of EUR 100 may now pay only EUR 82 as a loan instalment for building a house or purchasing a flat, the press release reads.