Tirana Municipality has announced around 1,500 new winners under its social housing programme that subsidises loan interest. The scheme supports individuals and families seeking to buy an apartment in the capital.
The municipality has submitted the list of successful applicants to the Tirana Municipal Council for approval at its October meeting. The state budget will cover part of the interest on their home loans. The programme aims to ease the financial burden on low-income households. Under its terms, beneficiaries repay their loans at an interest rate of 3%.
Once the Municipal Council approves the list, successful applicants must contact the commercial banks that have agreements with the municipality. They will then continue the procedures to obtain the subsidised loans. The loan amount for each applicant depends on the number of family members and the programme’s eligibility criteria.
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