“Prime Minister Mikhail Mishustin signed a resolution to reduce the interest rate under the Preferential Mortgage program from 12 to 9%, as well as to extend the program until the end of 2022,” the website of the Russian Cabinet of Ministers reports.
It is noted that this measure will increase the availability of housing for Russian families and support the construction industry.
You can get a preferential mortgage for the purchase of housing in new buildings, the construction of a private house or the purchase of a land plot for its construction, the government said.
On April 25, Russian leader Vladimir Putin proposed lowering the interest on subsidized mortgages to 9% per annum.
At the same time, he instructed to extend the relevant lending program until the end of 2022.
Later, the Russian Ministry of Finance developed and submitted to the government a draft resolution to that effect.