Government has allocated €10 million in subsidies for first-time housing purchases

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This year, the government has reached out to young people, having allocated 10 million in subsidies for their first-time housing purchase. The state assistance is offered to families purchasing their first housing and moving to regional areas. The state subsidy ranges from 15 to 30 percent of the total cost of the new housing to be purchased.

To be eligible for the housing assistance, applicants must meet certain criteria. Eligible persons include couples who have registered their marriage or single parents under the age of 36. Also, none of the family members may own private residential property and the housing to be purchased must fall within the locations eligible for compensation and must be fully completed by the time of the purchase.

The Law on the Financial Incentive for Young Families Acquiring a First Home of the Republic of Lithuania stipulates that the state subsidizes housing in the areas where the standard value per square metre of housing is at least 65 percent lower than the highest standard value per square meter of housing established across Lithuania.

Elpekas’s projects, Pakrantės Alėja I and Pakrantės Alėja II, meet applicable housing criteria, making customers eligible for the state subsidy for their property purchase. The state compensation provided for housing purchases from these projects ranges from €13,000 to €26,000.

Here are some tips from experts on how to apply for the state-funded subsidy.

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