The authorities are preparing conditions for preferential family mortgages for small towns, Deputy Finance Minister Ivan Chebeskov told Izvestia. This instruction was given by Russian President Vladimir Putin during his address to the Federal Assembly. Separate parameters should apply to subjects with a low level of housing construction, as indicated on the Kremlin website.
The rate on preferential family mortgages for small towns will not be lower than 6%, Ivan Chebeskov clarified. He added: the emphasis is planned to be on supporting and developing individual housing construction. In small towns, not many apartment buildings are being built, and in addition, many citizens want to live in their own houses, explained a representative of the Ministry of Finance.
Mortgage programs with state support have proven to be an effective mechanism for improving the living conditions of Russians and increasing the affordability of housing, the press service of the Ministry of Construction said.
In small towns, parameters should be set so that buying a home with a mortgage is affordable, especially taking into account the income of the population in such regions, noted Sovcombank chief analyst Anna Zemlyanova. At the same time, due to migration to regional centers, few new houses are being built in small settlements. Therefore, special preferential conditions should also be extended to secondary housing, believes Anna Zemlyanova.
Special parameters will help support sensitive segments of the population, noted Senior Director for Bank Ratings Expert RA Ivan Uklein.
Read more in the exclusive material from Izvestia:
Build aside: the Ministry of Finance is preparing special conditions for family mortgages in small towns
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