Saxony has responded to the rise in construction prices and improved the ‘Family Housing’ programme: the maximum permissible total expenditure for the creation or acquisition of residential property has been increased. It now amounts to 535,000.00 euros for a four-person household with two children. The favourable interest conditions of 0.75% p.a. and the fixed-interest period of 25 years remain unchanged. In Saxony, families can apply for favourable loans for home ownership under the ‘Family Housing’ development programme. The creation of owner-occupied residential property through construction or acquisition as well as modernisation, repair or conversion measures required in connection with the acquisition of existing property are eligible for funding.
What is subsidised: -acquisition with modernisation of housing built before 1990 - ‘young buys old’ -acquisition of residential property and any associated modernisation measures -construction including first-time purchase of residential property within two years of completion -interim financing of the property purchase -funding for rental housing is excluded. More information on the requirements can be found at www. www.sab.sachsen.de/familienwohne