PLN 20.9 million spent so far on new housing subsidies

State-run lender Bank Gospodarstwa Krajowego (BGK) has accepted 940 motions with the “Apartments for the Youth” program since the start of the scheme on January 1 this year, the bank said on Tuesday. The value of financing obtained this was amounts to PLN 20.9 million. Polish media had earlier reported that there is little interest in the subsidies. On Tuesday, Dziennik Gazeta Prawna suggested that only PLN 300-350 million will be used out of this year’s PLN 600 million limit for the program. “Apartments for the Youth” is a scheme directed towards married couples and single persons under the age of 35 buying new apartments. The value of financial support is 10 percent of the apartment's value for those who do not have children and 15 percent for those who have with additional subsidies when more children are born. Subsidies are granted for up to 50 square meters of an up to 75-square-meter apartment. The program will be conducted in 2014-2018 and zł.3,553 million has been assigned for it over that period.