Serbia’s Minister of Finance, Siniša Mali, signed an agreement with representatives of Bank Poštanska štedionica to issue a state guarantee for loans aimed at helping young people purchase their first residential property. This makes Poštanska štedionica the first bank officially involved in the program. Mali expressed particular satisfaction with the Bank’s announcement that within just 24 hours, 546 young people had already shown interest in the program.
“This is proof that we’ve created a program young people truly need. The biggest barrier to their independence is often buying their first home, and with this initiative, we are helping them overcome that hurdle,” said Mali.
Mali also highlighted Serbia’s solid fiscal position, noting that the country holds over 580 billion dinars in its account, with public debt to GDP remaining below 45%. This strong financial standing allows for the launch of such programs. He further explained that the program offers young people loans of up to 100,000 euros, with a 1% down payment, available to Serbian citizens aged 20 to 35. The loan amount can be used for properties anywhere in the country, with no restrictions on the location or price per square meter.
While individuals can borrow more than 100,000 euros, the state guarantee is limited to 100,000 euros. Mali also mentioned that the total guarantee scheme amounts to 400 million euros, which is expected to support the purchase of around 5,500 apartments.
