Putin Expands Mortgage Support for Russian Families
President Vladimir Putin has announced significant changes to Russia's mortgage landscape, focusing on supporting families with children. He highlighted plans to expand subsidized mortgage programs and lower interest rates.
Putin revealed that the family mortgage program, currently offering a 6% subsidized rate, will be extended until 2030. This program, designed for specific family situations, will now also cover resale housing in cities with limited new residential buildings, starting April 1, 2025.
The government is working to preserve mortgage lending tools and subsidized programs for families with children. In a notable expansion, the 2% interest rate for the Far East and Arctic mortgage program will be extended to include large families and the secondary rental market from 2025. This announcement was made at the Eastern Economic Forum 2025.
Putin noted that programs supporting individual housing construction have significantly boosted housing development. He emphasized the importance of these programs in providing affordable housing options for families.
The Russian government is committed to making housing more affordable for families. The extension and expansion of subsidized mortgage programs, including the family mortgage and the Far East and Arctic mortgage, demonstrate this commitment. These changes aim to support families with children and boost housing development across the country.
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