First Apartment Program bill adopted by the Sejm

The Sejm (lower parliamentary chamber) has adopted a bill on the "First Apartment" program. The program consists of two pillars: the "Safe Credit 2%" system (a subsidy for first-time homebuyers) and the "Housing Account" (which helps people save for a down payment). Both instruments are designed to assist individuals up to 45 years old who are ready to buy their first home or plan to do so in the future.

During legislative work, the list of people eligible for the "Safe Credit" was expanded to include those who inherited or received ownership rights to a property and sold it before becoming adults.

The new law also includes provisions limiting the assignment of reservation and developer contracts, as such agreements lead to a reduction in the number of residential units available directly from the developer and significantly increase the cost of purchasing a unit.

The law is expected to come into effect in July of this year, pending approval from the Senate. 

Source: WBJ