The Russian government will expand the preferential mortgage program.

Now Russians will be able to take out a loan at a reduced rate for the purchase of a private house.

This was announced on Friday, October 22, by Prime Minister Mikhail Mishustin.

As the head of the Cabinet of Ministers recalled, the authorities launched a preferential mortgage program in 2020 as one of the measures to support citizens and the construction industry during a pandemic.

Subsequently, the initiative aroused great interest among the population, the prime minister emphasized.

“It has become possible to buy an apartment from a developer at a rate of no more than 7% per annum.

And the preferential mortgage was extended for another year - until July 1, 2022.

Such conditions will now apply in the field of individual housing construction (IZHS).

They can be used by a lot of people who want to live in their own home, ”said Mishustin.

Recall that initially, within the framework of the preferential mortgage program, Russians could get a loan at a rate of 6.5% when buying apartments in new buildings.

The maximum value of real estate at the same time depended on the region.

In the Moscow and St. Petersburg agglomerations, the maximum amount was 12 million rubles, and in other regions of the country - 6 million rubles.

On July 1, 2021, new rules for preferential mortgages came into force in Russia.

Thus, the subsidized interest rate was increased to 7% per annum, and the maximum loan amount became the same for all regions of the country - the amount should not exceed 3 million rubles.

According to the company "DOM.RF", during the entire period of the preferential mortgage program, more than 613 thousand loans were issued for the total amount of 1.88 trillion rubles.

Although the demand for the purchase of apartments in new buildings remains high, more than 45 million Russians would like to live in their own home, the organization's experts say.

“High mortgage rates are an obstacle to unlocking the potential of the individual housing construction market.

Therefore, the government's decision is timely and will allow more Russian families to improve their living conditions, ”said Alexey Nidense, managing director of DOM.RF.

It is noteworthy that the interest of Russians in buying private houses has noticeably increased precisely after the outbreak of the coronavirus pandemic.

Nikolay Pereslavsky, an employee of the Department of Economic and Financial Research of the CMS Institute, told RT about this.

“It should be noted that there have been constant problems with lending in this sector.

The cost of land and houses in Russia has not actually been assessed, and there are practically no appraisers for suburban real estate.

This type of mortgage will gain serious popularity after the standards of individual projects are approved and their estimated cost is clearly understood.

Then individual housing construction may increase by at least 50%, ”Pereslavsky said.

The extension of the preferential mortgage program to private houses can significantly support the construction industry.

Artyom Deev, head of the analytical department of AMarkets, shared this opinion in an interview with RT.

“The low-rise construction sector has sagged this year due to high prices for building materials.

As a result, the cost of such housing has almost doubled across the country.

The mortgage program gives Russians, who dream of their own home, a chance to start living in different conditions, ”the analyst added.

Housing incentives

The government has also adjusted the terms of the Far Eastern Mortgage program.

Now young families living in single-industry towns will be able to purchase housing on favorable terms not only in new buildings, but also in the secondary market.

“This measure has been asking for a long time.

First, large cities in the Far East are some of the most expensive in Russia.

Prices per square meter in Khabarovsk or Vladivostok are in the top ten in terms of cost.

Secondly, there are not many new buildings there due to logistical difficulties - it is expensive to maintain materials and equipment, "Nikolai Pereslavsky explained.

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In addition, the Cabinet plans to allocate an additional 14.5 billion rubles to help large families to improve their living conditions.

As Mikhail Mishustin recalled, at the moment the state is helping to pay off mortgages to Russians raising three or more children, if the youngest child was born after January 1, 2019.

Each such family will be able to receive 450 thousand rubles, the prime minister said.

“This mortgage benefit has already become one of the most demanded measures of state support.

Many large families participate in this program.

Therefore, this year the government has increased the volume of its financing in comparison with last year by more than one and a half times - to almost 69 billion rubles, "- said the head of the Cabinet.

According to him, additional funding for the initiative should support more than 32 thousand parents with many children.

According to Nikolai Pereslavsky, the actions of the authorities will significantly reduce the burden on the budgets of such families.

At the same time, new government spending will not affect the state of the state treasury, the specialist is sure.

“Reducing the amount of mortgage payments for any large family will not be superfluous.

In the face of a huge budget surplus in 2021, the authorities can afford to increase the amount of support from the population.

Therefore, everything is logical and justified here, ”the specialist concluded.