The amounts of preferential housing loans have been increased in Belarus

In Belarus, the maximum standard cost of 1 sq.m for obtaining a preferential loan for real estate has been increased from Br 5.3 million to Br 6.1 million. This is stipulated by Resolution of the Council of Ministers No. 1191 of December 31, 2013, which was officially published on the National Legal Internet Portal, reports BELTA.

This refers to the legally established maximum, which the bank takes into account when calculating the maximum amount of a preferential loan for the construction or acquisition of a residential premises. The difference between this amount and the actual cost of 1 sq.m is compensated by the beneficiary using their own funds or an additional loan at a commercial interest rate.

The last time this standard was increased was from Br 4.6 million to Br 5.3 million in October 2013.

This year, Belarusian banks will provide citizens with credit resources for the construction (reconstruction) or acquisition of residential premises totaling Br 15.802 trillion, of which Br 14.764 trillion will be issued as preferential loans. Currently, two banks provide loans to beneficiaries - OJSC "ASB Belarusbank" and OJSC "Belagroprombank". According to Decree No. 13, low-income citizens, large and young families, military personnel, Chernobyl victims, disabled persons, and certain other socially vulnerable categories of citizens can receive preferential loans for real estate.