Affordable housing plan moving ahead

The government's ambitious plan for affordable housing, dubbed the social compensation program, entails the construction of apartment blocks on public land with private funds and renting them out at low rates.

The program will focus on finding affordable housing for young people aged 18-39, using public properties through public-private partnerships, or PPPs.

In the first phase of the program, inactive public buildings will be reconstructed, so that they can be provided at low rent to young people or new couples.

This will be followed by a series of tenders within 2024 to select the contractors who will utilize undeveloped Public Employment Service (DYPA) plots, with the aim of completing the construction of the first homes by private builders in 2025. DYPA will then publish the call for the selection of beneficiaries, based on social criteria.

According...