Financial Services, Latvia, Legislation, Loan, Real Estate

International Internet Magazine. Baltic States news & analytics Tuesday, 23.10.2018, 06:31

Childless young professionals to become eligible to aid under the housing program in Latvia

BC, Riga, 22.11.2017.Print version
Young professionals under age of 35 years will in 2018 become eligible to aid under the government's housing program, even if they don't have any children, according to the legislative amendments passed by the Latvian parliament in the final reading, informs LETA.

So far only families with children were able to receive state guarantees for purchase of their first home under the given housing program.

The Economics Ministry said that people with higher education and under 35 years of age was one of the social groups that needed housing but lacked finances for a downpayment on a mortgage loan.

In order to help young professionals to buy their first home, additional EUR 300,000 will be granted to the housing program in 2018, EUR 330,000 in 2019 and EUR 360,000 in 2020.

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