Banks had granted loans worth 400 million euros as part of the"First Home" scheme by the end of November, according to data fromthe SME Guarantee Fund (FNGIMM), which provides guarantees for theloans.
This means 40% of the 1 billion-euro credit allocated by theGovernment for the "First Home" scheme in 2009 has been usedup.
The scheme was launched five months ago. The Fund provided 9,467guarantees (the number of loans granted by banks), half of whichwere used for the purchase of two-room apartments.
Around 23% of guarantees were provided for the acquisition ofthree-room homes, and 15% for studios, said Rodica Ionescu, advisoror the FNCIMM president. The average value of loans granted underthe scheme is 42,000 euros, with the maximum value of the loanbeing 57,000 euros.
Only 28% of the apartments purchased via the "First Home" schemeare new ones, built after 2008, while 3.4% are located in buildingsyet to be completed.
Ionescu says it is normal for most of the homes in the scheme tohave been built before 2008, because the buildings were immediatelyavailable, with apartment prices close to 60,000 euros.
"According to our data, the price of a square metre is around1,000 euros in Bucharest both for old and for new apartments, withthe difference being that for old apartments we are talking aboutthe usable area, and about built area for new ones," Ionescusays.
One quarter of loans granted target buildings with acquisitionprices between 50,000 and 60,000 euros, 22% of the apartments costbetween 40,000 and 50,000 euros, while the rest had a price of lessthan 30,000 euros.
"One third of 'First Home' loans were contracted by clients inBucharest and Ilfov county, whilst Cluj, Timis and Brasov accountedfor an around 5% share.
The fund has agreements signed for the "First Home" scheme with19 banks, of which 18 are active in the scheme.
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