The works to erect the first apartment building within the municipal program “First House” will begin in autumn. The apartments there are intended for employees of municipal and state institutions and young families who will be able to purchase them under mortgage. The loans will be repayable in 25 years, at an interest rate of 10%, Info-Prim Neo reports. In a news conference on June 16, Mayor General of Chisinau Dorin Chirtoaca said the first building with 300 apartments that will be constructed on Ghioceilor St in Buiucani district will be completed in two years. A square meter of unfinished apartment will cost €300-400, while of finished apartment €400-500. The price of a one-room apartment that will be 40 square meters in area will not exceed €20,000. The first installment will be 2,500 lei. The two- and three-room apartments will cost up to €30,000 and 40,000 respectively. The eligibility criteria will be set after June 30, when there will be held a contest to select the construction companies, Dorin Chirtoaca said. By the end of this year, the Chisinau City Hall plans to start building another 700 apartments. The municipal program “First House” will cover the 900 hectares inventoried by the City Hall during the last year and other plots, the mayor said.