Putin instructed to develop measures to support individual housing construction

Russian President Vladimir Putin instructed the Public chamber, together with the government to study the implementation of mechanisms of support of individual housing construction (IZHS).

Earlier on the proposal of the head of state has earned preferential mortgage at 6.5 percent per annum. The program was successful and the President instructed to finalize. In an address to the citizens of the country on 23 June, the Russian leader proposed to expand the preferential mortgage include the possibility for the Russians to buy on credit more comfortable housing, “the cost is not to three, like before, and up to six million rubles. And in the largest Metropolitan areas – Moscow and St. Petersburg – up to 12 million rubles.”

At the meeting with members of the Public chamber Thursday, 25 June, the President proposed to develop and support the construction of small private houses.

“You also know how popular the program of preferential mortgage at 6.5 percent. We have decided to expand it, but not enough. Need to move in other directions, including the introduction of mechanisms for support of individual housing construction”.

“I Beg you to attend to these issues, to work together with the government, Parliament, business, the regions in all aspects of their solution”, — said the President, addressing the members of the Public chamber.

About the possibility of inclusion in a preferential mortgage private low-rise building told first Deputy Prime Minister Andrei Belousov during the meeting with representatives “Business Russia”.

under the program, which was created by order of Russian President Vladimir Putin, it is possible to buy an apartment in an apartment building, if it’s a shared construction. Now under the terms of the mortgage at 6.5 percent per annum to get a loan at a reduced rate is possible until 1 November 2020. Rate is valid for the entire loan term, max.th term of the loan is 30 years. The maximum mortgage amount is for Moscow and St Petersburg 8 million rubles for other regions — 3 million rubles with an initial payment of 20 percent.

Russian banks by the end of may took 120,8 thousands of applications for mortgage loans at a rate of 6.5% per annum. Approved 81,9 thousands of applications (83% of all applications) to process loans. Banks have already issued 22,8 thousand mortgage loans for 57.5 billion rubles, while 97% of loans accounted for 15 of the largest banks.