How to buy a housing unit for young people
The housing units for young people may be bought by the tenants at the end of a minimum one-year continuous lease period by monthly payments made to local public authorities, by taking out mortgage loans, by taking loans granted under the First House (Prima Casa) Programme or by paying the final price in full using their own resources.
Housing Units for Young People - Monthly Instalments
The housing unit for young people may be bought by the tenants in equal monthly instalments which they pay to the local authorities with a minimum down payment amounting to 15% of the sale value. The interest is represented by the National Bank of Romania reference interest rate plus two percentage points and it applies to the outstanding amount of money to be paid for the housing unit.
The property right shall be transferred to the buyer after the sale price is paid in full. The dwelling is managed by the local public authorities until that date.
Alongside the property right, the buyer shall also receive the right to the shares in buildings and installations and equipment which can be used only jointly as well as the right to use the land share corresponding to the dwelling during the entire life cycle of the building.
By the Order no. 5396 of July 31, 2018, issued by the Ministry of Regional Development and Public Administration, the replacement value calculated amounts to 1,578.57 lei/sqm, inclusive of VAT. The replacement value is determined annually and the sale value of the flats built under the NHA Housing Units for Young People Programme is calculated on its basis.
Housing Units for Young People – First House (Prima Casa) Programme
The housing units may be bought under the First House (Prima Casa) Programme as well. For further information you can access www.fngcimm.ro.
A list of banks granting loans under First House (Prima Casa) Programme may be found here.
Housing Units for Young People – Mortgage Loans
The housing units for young people may be bought using mortgage loans taken out from various banks such as: BCR, BCR Banca pentru Locuinte, CEC Bank, Piraeus Bank, BRD, Raiffeisen Banca pentru Locuinte, Marfin Bank, Banca Transilvania , Intesa SanPaolo Bank, Bank Leumi
Housing Units for Young People – Payment in full of the final sale price using own resources
If the sale requirements are met, the housing units for young people may be bought by tenants who use their own financial resources to fully cover the sale price.
For further information on the ways in which the housing units for young people may be purchased the tenants may contact the local authorities in the area where the housing units they are interested in are situated, or the National Housing Agency (e-mail address: email@example.com, telephone number: +4021 320.61.22).