The government has extended the term of the program of preferential family mortgages at 6% per annum.
This was announced on Tuesday, August 17, by Prime Minister Mikhail Mishustin during a cabinet meeting.
“The program was supposed to end in about a year and a half, now it will operate until the end of 2023.
Moreover, by the decision of the head of state, parents will be able to use it not only for two or more children, but already at the birth of their first child, ”Mishustin said.
As the head of government added, preferential terms will be in effect throughout the entire term of the loan.
To ensure the initiative, the authorities will additionally allocate about 1.7 trillion rubles.
It should be noted that Russian President Vladimir Putin ordered to expand the conditions for obtaining housing loans for Russians with children.
Earlier, as part of the initiative, families with two or more children born after January 1, 2018 could get a home loan at a reduced rate of 6% per annum.
Since July 1, such an opportunity has appeared for parents with one child born after January 1, 2018.
"The maximum amount of such a loan for Moscow and St. Petersburg, Moscow and Leningrad regions, where the cost of real estate is objectively higher, will be 12 million rubles, and 6 million rubles - for all other subjects of the Federation," - said Vladimir Putin during a speech at the International Economic Forum (SPIEF).
According to DOM.RF, in the period from January to July 2021, Russians took out more than 32.2 thousand concessional loans as part of the initiative.
At the same time, the total amount of loans issued exceeded 104.6 million rubles.
Residents of Moscow, the Moscow Region, St. Petersburg and the Krasnodar Territory became the leaders in terms of the number of loans received.
Expansion of the program and an increase in its duration will make it possible to multiply the number of loans provided annually.
This point of view in an interview with RT was expressed by the head of the analytical direction of the AMarkets department Artyom Deev.
“In practice, the expansion of the terms of preferential family mortgages took place back in July.
After that, banks recorded an increase in loans issued within the framework of the initiative by one and a half times, which was the reason for the extension of the program.
Thanks to this measure, citizens with children received an additional opportunity to buy real estate and resolve the housing issue.
Moreover, at a preferential rate, Russians can buy not only for an apartment, but also for a house with land, ”the expert emphasized.
According to experts, Russians with children can additionally save on loan payments through measures to support young families. Recall that in 2020, the authorities expanded the maternity capital program. So, from January 1, 2021, families received the right to receive 484 thousand rubles upon the appearance of their first child, and payments for the birth of a second child were increased to 639 thousand rubles.
“In addition to providing funds for the birth of the first and second children, when the third child appears, the state extinguishes for the family part of the mortgage loan in the amount of 450 thousand rubles.
Thus, parents with many children have the opportunity to spend more than 1.5 million rubles for payments on a housing loan.
The authorities are taking active measures to help young families acquire their own housing, "Svetlana Bessarab, a member of the State Duma Committee on Labor, Social Policy and Veterans Affairs, said in an interview with RT.
Meanwhile, an increase in the number of participants in the preferential housing loan program will serve as an additional incentive for an accelerated recovery of the construction industry from the effects of the pandemic.
Pavel Sigal, the first vice president of the all-Russian public organization for small and medium-sized businesses "Support of Russia", told RT in an interview with RT.
“The terms of the initiative have become more accessible to Russians, so the demand for real estate will increase, which will allow developers to build and sell more real estate.
Constant construction of facilities requires tools and raw materials, and as a result, employees of related industries will be provided with work and earnings, ”the analyst added.
© Konstantin Kokoshkin / Global Look Press
It is noteworthy that against the background of the persisting interest of Russians in square meters, experts do not expect a significant increase in housing prices in the medium term.
According to Artyom Deev, last year the cost of apartments increased by about 20% in a number of regions, and developers began to actively build housing in order to make the most of the rush demand.
“Now large developers are trying to sell the maximum amount of housing in order to have time to sell it at favorable terms for themselves. However, the continuation of this trend runs the risk of overstocking the market. As a result, there is already a noticeable decrease in the rate of rise in price per square meter in Russia, ”the analyst concluded.