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Belarus raises the size of favourable terms credits for housing construction

Belarus raises the maximum cost of 1 square meter from Br5.3 m to Br6.1 m to get favourable terms credits for housing construction. The corresponding Decree №1191 of the Council of Ministers from December 31 2013 was published on the National law Internet portal.

The decree deals with the prescribed by the law minimum that a bank takes into consideration while defining the maximum favourable terms credit for housing construction or purchasing. The gap between this sum and a real cost of one square meter a person will pay either from personal funds or by taking a further advance under a commercial interest.

This year Belarusian banks will provide citizens willing to construct, reconstruct or purchase housing premises with loans for Br15.802 trillion including Br14.764 trillion of favourable terms credits.

Today favourable terms credits are provided by two banks – JSC “ASB Belarusbank” and JSC “Belagroprombank”. According to Decree №13 favourable terms credits for housing construction or purchasing are available for low-income groups, big families, young families, servicemen, Chernobyl tragedy victims, disabled people and some other socially vulnerable categories.

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