Serbia’s Deputy Prime Minister and Minister of Finance, Siniša Mali, announced that the state program providing subsidized housing loans for young people under 35 to buy their first home has been a major success, helping around 5,000 young citizens secure housing so far.
“Because of this success, in the next ten days we will expand the state guarantee scheme by an additional 200 million euros to cover all applications and continue the program next year,” Mali said, according to the Ministry of Finance.
He explained that 3,755 applicants have completed the entire procedure, while around 1,100 more are still in the approval process. The program, launched in March this year, allows young people to purchase their first property with just a 1% down payment.
“The average loan amount so far is about 80,000 euros, meaning young people are signing contracts with around 800 euros in personal contribution. This is an enormous success for a scheme financed with 400 million euros, and we are now expanding it. I encourage all young people to take advantage of this opportunity,” Mali said.
He added that 20% of participants in the program are either unemployed or working on temporary contracts, emphasizing that employment status or contract type are not obstacles to participation. “Despite global challenges and internal difficulties, we continue to show that we care for young people. Once they buy their home, they can focus on their careers and families,” Mali said.
The minister also announced that on Friday, October 31, the government will begin refunding 50% of tuition fees to students, following amendments to the Law on Higher Education. The funds will be paid out automatically through student cards during November, with no need for individual applications, as payments will be processed based on lists submitted by higher education institutions.
