Deputy Aksakov: Four new preferential mortgage programs may appear in the Russian Federation
Four new preferential mortgage programs may appear in Russia. The details of their development were revealed by the Chairman of the State Duma Committee on Financial Markets Anatoly Aksakov.
Although the preferential mortgage with state support ended on July 1, 2024, the country should have new additional support measures for those who want to buy housing, the parliamentarian is convinced. Now we need to make these programs more streamlined so that not just anyone can use them, otherwise this is fraught with overheating of the housing market, Aksakov explained.
I think that already in the next session we will begin discussing several new programs at once, which, on the one hand, will simplify the acquisition of housing for citizens, and on the other hand, will allow the state to increase its capabilities and resources in critically important areas.
One of the preferential programs will be aimed at valuable specialists employed in industry, especially in advanced, high-tech production. In addition, they will consider introducing construction mortgages in those regions where large-scale construction is currently underway or planned.
Among other things, Aksakov proposed to work on the issue of creating a system of preferential mortgages for young personnel, since one of the most important tasks for Russia is the creation of scientific and production centers. Another preferential mortgage will affect regions experiencing problems with the population.
The probability of changing the terms of a family mortgage has been assessed
Russian Deputy Prime Minister Marat Khusnullin said that there are no plans to change the terms of the preferential family mortgage for now. He noted that this measure is highly dependent on the key rate. Khusnullin also recalled that the new parameters of the preferential program were adopted on July 1, and before that, loans under the state program with a rate of up to six percent were issued to families with at least one child under 18 years of age. Now the figure has been reduced to six years. In addition, such housing can only be purchased directly from the developer.
At the same time, in July, the Deputy Prime Minister spoke about a possible revision of the terms of family mortgages. “We are currently looking at how the dynamics will develop, because the rate is high,” he said then. Khusnullin added that more than 1.1 million families have used the program.
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Russia predicted the future of housing prices
As noted by real estate market expert Konstantin Barsukov, apartments will not start getting cheaper in the near future, there are no grounds for this yet. “Developers are currently using various schemes that are aimed at stimulating demand. These include tranche mortgages, various types of installments, and mortgages without a down payment,” the expert explained. He also did not rule out that developers will come up with new ways to stimulate demand, in connection with which one should not expect a reduction in prices yet.
In turn, the head of the analytical center “Real Estate Market Indicators IRN.RU” Oleg Repchenko, on the contrary, predicted a decrease in housing prices in Russia. According to him, developers do not see any reasons for sales yet, but closer to the end of the year the size of discounts may increase, and more promotions will become available, for example, repairs or a gift parking space. Repchenko is convinced that the primary housing market will continue to cool down if there is no mass preferential mortgage government support.
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