New government measures in favor of subsidized loans

After a 44% drop in new home sales in 2008, the government is taking new measures to boost the real estate acquisition sector. The doubling of the zero-rate loan and the extension of the Land Pass should help to soften the economy.

In fact, all the workers in this specific sector can take advantage of particularly privileged conditions through these innovative credit solutions to obtain extra liquidity and carry out long-delayed projects, or face unexpected expenses that are closely linked to daily life.


The zero rate loan

rate loan

Additional interest-free loan, the zero rate loan (PTZ) is granted by banks to households accessing property for the first time. Usually, the amount of this subsidized loan is equal to 20% of the price of housing, with a price ceiling. In 2009, the PTZ will be doubled for the purchase of new housing. Thus, the portion of the subsidized loan will increase to 30% of the price of housing, instead of 20% currently. In addition, housing price caps will also be increased. This measure favors in particular those who have no personal contribution and who would be refused the possibility of borrowing without the help of the loan at zero rate. By facilitating access to credit for households, this measure should make it possible in 2009 to directly support the acquisition and construction of 100,


Extension of the Land Pass to the purchase of an apartment


In addition, the law is known as “mobilization for housing” specifies that the Land Pass will also be extended to the purchase of an apartment. Set up at the end of 2007 for individual houses as part of “the house at 15 dollars per day”, the Pass Foncier allowed low-income households to buy housing by paying off the equivalent of rent in low-cost housing each month. social (450 dollars per month on average with repayment spread over 30 years). The law known as “mobilization for housing” indicates that the Land Pass can be used since 2009 for the acquisition of an apartment. Nearly 30,000 households are expected to benefit. In addition, to encourage local authorities to offer the Land Pass to low-income households, the compulsory contribution of municipalities to this system (3,000 to 5,000 dollars). 

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