Romania Raises Guarantee Cap For New Housing Purchases

The Romanian government decided to raise the guarantee ceiling to EUR70,000 or EUR75,000 for new homes built under the government housing program. Romanian Prime Minister Emil Boc announced that the government will also increase the total guarantees ceiling for new buildings. For already built houses the guarantee will be kept at EUR60,000. The changes are subject to government approval next week.

 

Early January, the government decided that people sealing sale-purchase precontracts through the housing program before February 15, 2010 would benefit from state guarantees according to the current system, and the program would be then changed to stimulate the purchase of new dwellings.