Interest Subsidies for Multi-Story Residential Construction
Non-repayable interest subsidies for external loans for the construction of building projects with more than two residential units in Burgenland. Funding starts on 01.01.2025, applications can be submitted at any time.
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Grant criteria
Funding objective
Non-repayable interest subsidies may be granted for the repayment of external loans taken out to finance the construction of building projects with more than 2 residential units.
Eligible expenses
- Interest expenses for external loans
Non-eligible expenses
- Repayment of the loan
Eligible to apply
- Companies
- Cooperatives
- Foundations
- Public Institutions
- Non-profit Organizations
Funding requirements
- External loan must be a home savings bank loan or mortgage loan
- Term not exceeding 32.5 years
- Semi-annual declining and net interest charge
- Max. interest rate 1% above the nominal interest rate of eight-year federal bonds
- Interest rate adjustment only within the scope of the nominal interest rate
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Documents required for application
- Application form
- Building permit or building confirmation
- Promise of mortgage loan
- Proof of land register security
Description
The interest subsidy for multi-storey residential construction in Burgenland is aimed at legal applicants in municipal ownership as well as non-profit housing associations recognized under the Housing Non-Profit Act and their subsidiaries. Non-repayable interest subsidies are granted for external loans – building savings or mortgage loans – taken out for the construction of residential projects with more than two housing units. The term may not exceed 32.5 years, interest is calculated semi-annually on a declining balance and net basis, and the interest rate may be at most 1% above that of the eight-year federal bond. Interest adjustments must remain within the framework of the official nominal interest rate. Only interest expenses are subsidized; principal repayments are excluded. Applications can be submitted continuously from January 1, 2025.
For the application, in addition to the fully completed application form, a building permit or building confirmation, a binding promise for the requested mortgage loan, as well as proof of land register security are required. The funding agency reviews completeness and eligibility based on the submitted documents and lists each project according to the formal criteria. The interest subsidy is paid out upon presentation of the bank confirmation regarding the interest amount and the appropriate periodic interest billing. This funding specifically supports the realization of high-quality multi-storey residential projects with high efficiency and climate protection standards and promotes affordable housing throughout Burgenland.
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