Serbia’s Minister of Finance, Siniša Mali, announced that 1,000 young people have already submitted complete applications for favorable housing loans at Banka Poštanska Štedionica, highlighting the success of the program aimed at helping young people with one of their most significant life challenges. According to the latest data, a total of 2,426 applications have been submitted for the state-subsidized housing loans, with 1,005 of them already complete, as reported by the Ministry.
Mali noted that these figures are impressive, especially considering that the program has only been open for a little over a month. He also emphasized the efficiency with which applications are being processed. The average time from a completed application to approval is just six days and five hours, and from contracting to implementation, it takes only nine days and six hours.
The minister underscored that the goal of the program is to make it as easy, affordable, and fast as possible for young people to purchase their first homes under the most favorable conditions. He expressed satisfaction with the program’s progress and hopes that it continues to be successful in the future.
Mali also pointed out that such a program is a reflection of a strong country with stable finances and healthy growth rates—one that cares for its young citizens and helps them build their future. This initiative is part of ongoing support for young people in Serbia, but Mali emphasized that it is among the most ambitious programs yet. It aims to address the two main obstacles young people face when buying their first homes: the down payment and high-interest rates.
The program offers substantial benefits, with a down payment requirement of only 1% and state-subsidized loan repayments for the first six years. In addition to Bank Poštanska Štedionica, seven other banks are participating in the program: Banka Inteza, NLB Komercijalna banka, OTP banka, AIK banka, Unikredit banka, Erste banka, and Raiffeisen banka.
When looking at the employment status of applicants, 51% are employed full-time, 16% are unemployed, 19% have a creditworthy guarantor, and 12% are employed on a fixed-term basis. Regarding the sector of employment, 52% of applicants work in the private sector, 35% in the public sector, and 5% each are entrepreneurs or independent artists.
The majority of applicants fall within the age group of 33 to 35 (24%), followed by those aged 30 to 32 (20%), and 23 to 25 (17%). Additionally, 43% of applicants have expressed interest in purchasing real estate in Belgrade, 12% in Novi Sad, 5% in Niš, and the rest are looking in various cities across Serbia.
In terms of preferences, 87% of applicants are interested in purchasing an apartment, while 12% are considering a house. Most applicants are looking for properties in the 45 to 60 square meter range (37%), followed by those in the 30 to 45 square meter range (22%) and 60 to 75 square meters (20%). More than half (52%) of the applicants have requested loans of 99,000 euros.
This program offers young people a crucial opportunity to purchase their first homes with state support, and the positive response indicates its growing popularity and success.
