The National Bank of Serbia (“NBS”) announced that it adopted the decision concerning temporary measures for Serbian banks (the “Decision”) on 17 August 2020. The Decision is aimed at facilitating an easier access to financial sources for purchasing residential real estate in Serbia by its citizens.
The Decision will introduce the set of three temporary measures, intended to provide an easier access to housing loans for individuals. These measures should support the growth of project finance market in Serbia and further development of construction industry, as the subject of the Decision are residential objects under construction under project financing. The Decision should be published by the end of the week, while its application will start within 8 days as of publication date and will last until the end of 2021.
More information is available on the official website of the NBS.
By Maja Jovancevic Setka, Partner, and Marija Vicic, Associate, independent Attorneys at Law in cooperation with Karanovic & Partners