Russian leader Vladimir Putin at a meeting of the State Council proposed expanding the family mortgage program at 6% on the secondary real estate market, the correspondent of The Moscow Post reports.
“I think that it would be possible to add another innovation … I still think that it is necessary to allow families to purchase housing at a preferential rate of 6% and in the secondary market, but let’s agree that it will be a secondary market in those settlements where new housing is practically not built,” Putin said at a meeting of the State Council on Support Support for the Russian Federation.
The preferential family mortgage was launched in 2018, its action was originally calculated until the end of 2022. But the program was extended until March 1, 2023, and then prolonged until July 1, 2024.
At the beginning of 2024, Russian President Vladimir Putin proposed extending a family mortgage until 2030.
In the summer of 2024, the Ministry of Finance published new parameters of the family program. Now a preferential mortgage under 6% per annum is available to families with children under the age of six, as well as families raising a minor child with disabilities. Also, the subsidized rate applies to individual regions.