New Housing Loan Initiative for Young Adults and Record Participation in EXPO 2027 Announced by President Vučić
Sustainable housing loan program launched for young Serbians; 86 countries confirmed participation in the upcoming EXPO 2027 in Belgrade.
President Aleksandar Vučić announced a new initiative aimed at facilitating housing loans for young adults aged 20 to 35 in Serbia.
The program allows individuals up to 35 years and 364 days to apply for loans with a participation rate of just 1%.
According to Vučić, the average salary in Serbia has reached unprecedented levels, with the average salary in Vračar reported at €1,650.
Vučić criticized the impact of recent protests and individual actions from certain educators and political groups, claiming they have adversely affected the country's economy.
He stated, "All our economic numbers are falling, yet these individuals demand their salaries.
It is a shame what they are doing."
In the context of the housing loan program, Vučić highlighted that applications have already commenced, with over 500 requests received within the first 24 hours.
He mentioned a significant interest in properties, reporting that 31% of applications were for apartments in Belgrade, and 18% for Novi Sad, with 85% of requests aimed at apartments.
The loan structure features a fixed interest rate of 3.5% for the initial six years and provides for a grace period of 12 months on repayments.
Post this period, the interest rate switches to the Euribor rate plus a government subsidy.
The President called on young people across Serbia to apply swiftly, noting that funds allocated for the first tranche are limited.
He stated that, as of mid-afternoon, around 6,500 applications had been received.
Vučić expressed his desire to significantly increase the number of beneficiaries from the program, suggesting a target of 25,000 to 30,000 young adults.
Additionally, Vučić emphasized the potential advantages of owning rather than renting, suggesting lower monthly payments could make housing more accessible for students.
Applications can be submitted at 236 branches of the Postal Savings Bank, which is the first financial institution to participate in the initiative, with expectations that more banks will join shortly.
In related news, Vučić reported that 86 countries have confirmed their participation in EXPO 2027, with hopes of exceeding 130 nations, which would break the previous record set at EXPO in Kazakhstan that included 117 countries.
This development is seen as a significant achievement for Serbia, according to the President.
Vučić noted that current protests have raised concerns regarding the country’s credit rating, with warning assertions from Moody's and Standard & Poor's indicating that such instability could impede Serbia’s economic progress.
He stressed the urgency of resolving the issues surrounding protests to ensure the country can move forward without hindrance.
The program allows individuals up to 35 years and 364 days to apply for loans with a participation rate of just 1%.
According to Vučić, the average salary in Serbia has reached unprecedented levels, with the average salary in Vračar reported at €1,650.
Vučić criticized the impact of recent protests and individual actions from certain educators and political groups, claiming they have adversely affected the country's economy.
He stated, "All our economic numbers are falling, yet these individuals demand their salaries.
It is a shame what they are doing."
In the context of the housing loan program, Vučić highlighted that applications have already commenced, with over 500 requests received within the first 24 hours.
He mentioned a significant interest in properties, reporting that 31% of applications were for apartments in Belgrade, and 18% for Novi Sad, with 85% of requests aimed at apartments.
The loan structure features a fixed interest rate of 3.5% for the initial six years and provides for a grace period of 12 months on repayments.
Post this period, the interest rate switches to the Euribor rate plus a government subsidy.
The President called on young people across Serbia to apply swiftly, noting that funds allocated for the first tranche are limited.
He stated that, as of mid-afternoon, around 6,500 applications had been received.
Vučić expressed his desire to significantly increase the number of beneficiaries from the program, suggesting a target of 25,000 to 30,000 young adults.
Additionally, Vučić emphasized the potential advantages of owning rather than renting, suggesting lower monthly payments could make housing more accessible for students.
Applications can be submitted at 236 branches of the Postal Savings Bank, which is the first financial institution to participate in the initiative, with expectations that more banks will join shortly.
In related news, Vučić reported that 86 countries have confirmed their participation in EXPO 2027, with hopes of exceeding 130 nations, which would break the previous record set at EXPO in Kazakhstan that included 117 countries.
This development is seen as a significant achievement for Serbia, according to the President.
Vučić noted that current protests have raised concerns regarding the country’s credit rating, with warning assertions from Moody's and Standard & Poor's indicating that such instability could impede Serbia’s economic progress.
He stressed the urgency of resolving the issues surrounding protests to ensure the country can move forward without hindrance.
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