FYR Macedonia's new terms related to the 'Buy a House, Buy a Flat' project are expected to raise citizens' interest in construction of houses and typical settlements, FYROM's Vice-Premier and Finance Minister Zoran Stavreski told a press conference on Saturday.

Few days ago the government has improved the conditions involving the project "Buy a House, Buy a Flat" after raising its subsidy from 50 to 75 per cent for construction of a new house. These new changes allow the subsidy to be increased up to EUR 15.000, whose aim is to additionally stimulate the sale of houses.

In addition, the new conditions offer refurbishing or demolishing of the old barracks in Skopje settlements and building new ones on their place, which attracts great public interest, Stavreski said.

"We have drafted a programme how many locations may be offered in the upcoming period for construction of individual houses and small typical settlements. The later means private developer will build one or several blocks of houses and sell them to citizens at lower price than customers will pay if they execute the construction works on their own," Stavreski said.

Zlatko Kalenikov, FYROM's Chairman of  the Association of Economic Chambers, said the new project terms were favorable for both citizens and construction companies, in particular small and medium enterprises.

130 subsidized housing loans iN FYR Macedonia, have been approved since launching of the project "Buy a House, Buy a Flat" in January 2012. Source: Gov