Apartment buildings renovation fund 2023
Soft loans for the renovation of multi-apartment houses, covering construction costs.
Get a consultation:
| This is translated information. In case of any discrepancies, the original Lithuanian version shall prevail. |
Who can apply?
The loan can be applied for by the project administrator, who is the manager of common-use areas as defined by Lithuanian law, or by a person acting under a mandate contract to provide project administration services for the implemented project. Alternatively, the municipal program implementation administrator can apply.
Loans are available for the renovation of multi-apartment buildings constructed based on construction permits issued before 1993. The aim is to achieve an energy class as specified in the Environmental Projects Management Agency's call and a minimum of 40% energy savings.
Loan duration
The loan term is 20 years.
Interest
Fixed annual interest rate of 3%.
Loan repayment
The loan is repaid in equal instalments. Repayment begins after receiving state support, at which point the loan amount will be recalculated and reduced accordingly.
The payment schedule will be provided after receiving state support.
- Thermal energy consumption is reduced by an average of 64%.
- Heating costs are reduced.
- A comfortable temperature is ensured in the apartment.
- The aesthetic appearance of the multi-apartment building is improved.
- The property's value is increased.
- No initial payment, property collateral, guarantees, or surety are required.
- No fees are applied for loan administration, issuance, contract amendments, or early repayment.
- For individuals entitled to heating compensation, the state covers the loan and interest.
- The decision to apply for the loan is made by a majority of no less than 55% of the owners of the apartments and other premises in the building.
- 100% subsidy for actual expenses, including construction technical supervision, project preparation work, and administrative expenses.
- 30% compensation for energy efficiency-enhancing measures.
- 20% additional compensation for the renewal of heating and hot water systems.
- Soft loan for covering construction work expenses.
A total of 223 million euro is allocated for the renovation of multi-apartment houses from the European Union (EU) investment fund resources for the 2021–2027 financial period.