On Thursday, the government approved a guarantee ceiling of 1.5 billion lei for the New Home program, and Finance Minister Adrian Cachiu said he wanted the ceiling to be exhausted by the middle of the year and topped up.

The minister noted that he discussed this aspect of increasing the guarantee ceiling with Prime Minister Nikolae Chuke.

Earlier this month, the Ministry of Finance announced that the Noua Casa program will be extended in 2023 with a proposed limit of 1.5 billion lei to guarantee these real estate loans.

“Financing is available in lei for the purchase of a detached house, and the maximum loan value that can be accessed is €66,500 – for houses valued at a maximum of €70,000, the requested advance is 5% and €119,000. – for houses, the price of which is a maximum of 140,000 euros, in this case the requested advance is 15%,” the Ministry of Finance emphasized at the time.

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Launched in 2009 under the name First Home, the government program has so far collected 330,875 guarantees and pledges of guarantees given to those who have accessed funding.

According to the institution, 2022 was an atypical year from the point of view of mortgage transactions with real estate, which was characterized by a high degree of uncertainty caused, on the one hand, by the crisis caused by the war in Ukraine, and on the other hand by the inflationary context and the galloping growth of variables that include to the structure of the cost of credit, which significantly reduced demand.

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