In a significant move, the Polish president has signed a new law aimed at assisting individuals under the age of 45 in purchasing their first homes. The Presidential Office has officially reported this development, which introduces a subsidized mortgage scheme as part of the government’s efforts to address housing challenges.
Under the new legislation, eligible home buyers under the age of 45 who have never owned a flat or any other residential property can apply for state-subsidized housing loans. These loans come with a highly attractive fixed interest rate of just 2 percent, ensuring affordability and long-term stability for prospective homeowners.
The loan amount available under this scheme will not exceed PLN 500,000 (approximately EUR 111,500). However, married couples and individuals with at least one child have the option to apply for a loan of up to PLN 600,000 (approximately EUR 134,000). This provision recognizes the additional financial responsibilities faced by families and seeks to accommodate their needs accordingly.
To further support aspiring homeowners, the state subsidies for these loans will extend over a period of 10 years. This extended assistance aims to alleviate financial burdens and facilitate a smooth transition into homeownership for the beneficiaries of the scheme.
In addition to the subsidized mortgage program, the law also includes provisions for compensation payments to businesses that have incurred losses due to the closure of certain border crossings. This measure demonstrates the government’s commitment to mitigating the economic impact of border closures on affected enterprises.
The new legislation is set to come into effect on July 1, ushering in a wave of opportunities for young home buyers in Poland. By providing affordable housing loans and compensating affected businesses, the government aims to foster economic growth, promote homeownership, and address the evolving needs of its citizens.