German 'child benefit home' popular

German 'child benefit home' popular

World October 23, 2018 20:16

berlin - Germany too needs hundreds of thousands of new homes quickly. The offer is small and the prices are rising. The Merkel government introduced a kind of child benefit for their own home to stimulate the market. Families and single-parent families, provided their taxable income is not too high, can receive a subsidy of 1200 euros per child per year for the purchase or construction of a house. The scheme is guaranteed for ten years.

Every year, 3 billion is available, but is up. In the first month almost 25,000 applications have been submitted for this special allowance. This involves 516 million euros. The popularity is so great that the German development bank (KfW), which is responsible for implementation, expects problems in 2019. New homeowners who, for example, sign a construction or purchase contract in October next year, may be unlucky because the pot is already empty.

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