Thousand Plus Project: Residential Space to Cost up to 1,100 Euro

By , 17 Apr 2018, 20:12 PM Lifestyle
Thousand Plus Project: Residential Space to Cost up to 1,100 Euro Source: CDM

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The highest price of a square meter of residential space to be offered in the third phase of the Thousand Plus project will be 1,100 euro, the Ministry of Sustainable Development and Tourism has announced, noting this is a net price

The next step, awaited since the beginning of the year, are invitations to banks, investors and citizens who want to participate. As the Ministry pointed out, they are currently procuring opinions of relevant offices and ministries to bring about the decision on criteria and procedure for long-term loans for such social residences.

After the government adopts the document, public calls will be sent to banks and investors, individuals and companies offering apartments.

“The public call for citizens is planned for May, depending on offers received and the processing of this data,” the Ministry stated. Besides defining the maximum price of residential space which can be bought through the project, key aspects of future contracts were also defined. A fixed interest rate of 2,99 percent annually, repayment period up to 20 years without a down payment, while loan processing will cost 0,3 percent of the total sum.

General Director of the Housing Development Directorate with the Ministry, Marko Čanović, earlier announced there will be over 600 apartments on offer. Besides those being built or recently completed, interested parties will be able to buy apartments built previously.

For such units, the owner must have ownership without burdens, built before 2013 with an energy certificate. The largest interest is again expected in Podgorica, while the inclusion of older buildings brings possible interest of clients from the north of Montenegro. In the first two phases of the project, 2,149 citizens bought 809 residences.

“In terms of investors or construction companies, the public call will specify conditions for their participation in the Thousand Plus project they need to meet,” the Ministry stated.

Translated from Café del Montenegro, for the original click here.

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