Household appliance and DIY retailers want to benefit from the "First Home" program

Publish date: 10-09-2009
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The launch of the government's "First Home" program could benefit not only the banking and real estate sectors, but also the household appliance market, whose players hope to see a rise in sales, and the Do-It-Yourself (DIY) segment, with the OBI retailer launching its own sales campaign.

The German OBI construction material and interior decoration store network is currently developing the "New Home" campaign, designed especially for those who have recently acquired or rented a home, offering them a 10 percent discount for the store's products for a full year. There is also the "Newly-wed" campaign, offering new couples (married within three months) the same 10 percent discount.

Unlike the players in the DIY sector, household appliance retailers are hoping for state subsidies for the acquisition of basic household appliances, such as refrigerators or stoves, as part of the "First Home" program.

"If this program expects to be a social one, intended for young people, then not only the acquisition of a home should be facilitated, but also of goods necessary for this," the Marketing and Sales Manager of Altex Romania, Cristian Moanta, said in a press conference.

The "First Home" program is part of Prime Minister Boc's Cabinet's anti-crisis program, and is meant to unblock the real estate market. People who want to take out loans through the "First Home" program will make a down payment of five percent for a home worth up to €60,000, or of €3,000 plus the difference resulting from the acquisition price, with the interest rate EURIBOR (Euro Interbank Offered Rate) on three months plus a maximum four percent per year, on euro loans, and ROBOR (the interest rate on loans on the Romanian interbank market) plus a maximum 2.5 percentage points.

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