[File Photo]

The Ministry of Housing has received over 200 applications for the first home buyer’s program in the first five months of this financial year.

Permanent Secretary, Sanjeeva Perera says so far they have paid close to four million dollars worth of grants in this financial year.

Perera says the allocation made in the budget for this program has been completely paid out.

“The good news is that we are keeping the program open. Applications are received on a weekly basis, and we are processing the applications. At the moment, we are working on some additional funding from the Ministry of Economy, so there is a little bit of a delay in terms of the payment of these additional applications.”

Perera says it has been a really good program, which is why they continued on the same basis, and the demand and the response have been higher.

The Permanent Secretary says this also has a positive ripple effect on other sectors such as construction and hardware traders.