The Municipality of Tirana has announced 1,100 winning names in the housing program with soft loans. Now, all selected individuals have 18 months to purchase an apartment.

These 1,100 citizens have earned the right to buy a home, as the municipality will co-finance part of the amount, which can be repaid over time with a fixed 3% interest rate. This year, under the soft loan housing program, the municipality is funding between 5.6 and 12.4 million ALL, depending on the type of apartment.

The winners of this program now have 18 months to find an apartment and complete the transaction process with the property owner and the bank.

In the meantime, if they face difficulties in finding a home, they must report the situation to the bank in order to demonstrate continued interest in obtaining the loan and explain the obstacles in securing a property.

The soft loan housing program is periodically opened by the capital’s municipality and aims to assist individuals or young families, who are also prioritized in the scoring process for eligibility.

However, high real estate prices in the capital make it impossible for many winners to purchase an apartment—especially if they don’t have additional savings or alternative financial support.