Since the Far Eastern Mortgage program was expanded to the Arctic zone of the Russian Federation in November 2023, the region has seen a significant increase in the volume of housing under construction. According to the Far East and Arctic Development Corporation (FEDC), the volume of current housing construction in the Arctic regions where construction is underway has increased by 40%. Thus, in the Arkhangelsk Region, there was a 32% increase in housing construction (667 thousand square meters of housing, or 15 thousand apartments, are being built here); in the Yamalo-Nenets Autonomous Okrug, volumes increased by 40% (278 thousand square meters, 5 thousand apartments). In the Murmansk Region, housing construction growth was 1060% (58 thousand square meters of housing, 1 thousand apartments; at the start of the Far Eastern and Arctic Mortgage program in January 2024, only one building with 90 apartments was being built in the Murmansk Region). Russian Minister for the Development of the Far East and the Arctic Alexey Chekunkov: "The availability of affordable housing is one of the factors influencing the development of the Arctic zone of Russia and the growth of the quality of life of northerners. The Far Eastern and Arctic Mortgage program makes a significant contribution to this. It makes housing affordable for young families and privileged categories of citizens, and stimulates the development of the construction industry. Over the full year of the program's operation, the volume of housing under construction in the Arctic Zone of the Russian Federation has grown by 40%."
