15:09 9 September 2024
Min of Energy and Technology hoping borrower support program leads to apartments
The Ministry of Development and Technology (MRiT) expects that a new support program for borrowers will boost the supply of housing. The ministry aims to address housing issues through targeted programs for various citizen groups needing support. MRiT is working on solutions to improve housing availability in both market and social sectors. They anticipate that the program will not only assist households in acquiring property but also increase housing supply.
MRiT notes that rising housing prices are influenced by factors such as deferred demand, increased material and construction costs, and higher labor costs. According to the Institute of Building Technology and data from the Central Statistical Office (GUS), recent price hikes in construction materials are due to rising raw material costs, supply chain issues, global economic disruptions, energy price increases, and higher labor costs.
