The program “First House” initiated by the Government will help reduce the exodus of the young people abroad as having a home is one of the necessities of the young families and the absence of this is one of the reasons for which they go abroad. Such opinions were stated in the program “Issue of the Day” on Canal 2 TV channel, IPN reports.

Deputy head of the Confederation of Trade Unions Petru Chiriac said this project will give an impetus to the young families as these will see that the state takes care of them. The interest rate on bank loans should be decreased from 9% to 2-3%. Such a practice is used in the developed states. “This rate should not be higher as we know the purchasing power in our economy, the current consumer price index and the prices of food, industrial and other goods,” stated Petru Chiriac.

Pavel Borta, sales director at the Union of Real Estate Agencies, said the realty market is now stable and the prices decreased compared with last year. As the number of applicants for home loans is increasing, this program is welcomed by the young people. Until now a young family had to pay a first installment of 30% for a home. The first contribution within this program is of only 10%. Among the advantages of this program are the reduction in the rate of migration and encouragement of the young people to work legally in the Republic of Moldova and contribute thus to developing the state.