For the young and literate: an experimental mortgage is being launched for civil servants

The federal budget will pay the participant in the experiment the cost of 33 square meters of housing, calculated from the official price per square meter, which is approved quarterly by the Ministry of Construction for each region (with amendments for cities of federal significance). A quarter of the amount will go towards the first mortgage payment, the rest will be paid in equal installments over nine years. In addition, mortgage interest will be partially subsidized for a maximum of 9 years. Partial compensation is provided for monthly mortgage interest in the amount of one twelfth of the remaining amount due for payment from the budget, and one quarter of the Central Bank’s key rate on the date of the mortgage agreement will also be compensated (that is, currently 4%).

You can only use state support once.

There are currently several preferential mortgage programs in effect for the general population in the country: “Family Mortgage” (primarily for families with preschool children), “Far Eastern” and “Arctic” mortgages, as well as “Rural” and IT mortgages, which are periodically suspended due to the exhaustion of the allocated funds limit.

The «preferential mortgage» for new buildings, launched in 2020, ceased to operate on July 1. This program fulfilled its task as an anti-crisis measure, after its completion the state will focus on targeted support, primarily for families with children, DOM.RF noted.

Over four years, 1.6 million loans worth 6 trillion rubles were issued under the preferential mortgage program for new buildings, DOM.RF reported. About 1.1 million new apartments and 100 thousand individual houses were purchased. The program also stimulated housing construction during the crisis periods of 2020 and 2022 and helped the industry survive the stressful transition to project financing. As noted by DOM.RF, in 450 settlements where construction was not underway at the beginning of 2020, new multi-apartment building projects were later launched.

The bulk of preferential loans were issued in the European part of Russia, in particular in the Central Federal District (30%). This is largely due to the fact that about 60% of apartment buildings are built in this part of the country. At the same time, if we take into account the population, the leader in terms of the penetration of «Preferential Mortgage» was the Northwestern Federal District — here, 2.9% of the working population received a preferential loan. In second place is the Ural District, in third place — the Southern and Central. In some regions, this level is even higher — for example, in the Leningrad Region, 4.4% of the adult population received a preferential mortgage, in St. Petersburg 3.8%, Novosibirsk Region and Krasnodar Krai also stand out (3.3% and 3.2%, respectively).

At the same time, the increased demand for housing was accompanied by an increase in prices for new apartments — by 1.7 times since 2020. Against this background, the area of ​​apartments purchased decreased (from 49 to 43 sq. m) and the loan term increased (from 18 to 25 years).

source: «Russian newspaper»