Residents of the Far East and Arctic regions are improving their living conditions thanks to government support
In the Far East, the rate of issuance of preferential mortgage loans continues to be high. During 2023, 39 thousand loans were issued in the Far Eastern Federal District with a rate of up to 2% per annum; the increase in the number of concluded contracts compared to 2022 was 50%.
More than 70% of all preferential loans in the region were issued under the “Far Eastern Mortgage” program. With the help of this program, 97 thousand Far Eastern residents have already improved their living conditions. Banks in the macro region issued over 435 billion rubles for these purposes at the lowest rates in the country.
The popularity and demand for the program has increased thanks to the Government’s decision at the end of 2023 to extend it to new categories of residents of the district and increase the maximum loan amount from 6 to 9 million rubles. The size of the down payment remained the same, at 20% of the loan amount.
“It is important that the launch of the program allowed us to stimulate demand for new buildings, which was reflected in the volume of housing under construction. Since 2020, these volumes have more than doubled in the Far Eastern Federal District - from 2.3 to 5.3 million square meters,” said Sergei Potanin, director of the social projects department of the Far East and Arctic Development Corporation.
In the Far East, the rate of issuance of preferential mortgage loans continues to be high. During 2023, 39 thousand loans were issued in the Far Eastern Federal District with a rate of up to 2% per annum; the increase in the number of concluded contracts compared to 2022 was 50%.
More than 70% of all preferential loans in the region were issued under the “Far Eastern Mortgage” program. With the help of this program, 97 thousand Far Eastern residents have already improved their living conditions. Banks in the macro region issued over 435 billion rubles for these purposes at the lowest rates in the country.
The popularity and demand for the program has increased thanks to the Government’s decision at the end of 2023 to extend it to new categories of residents of the district and increase the maximum loan amount from 6 to 9 million rubles. The size of the down payment remained the same, at 20% of the loan amount.
“It is important that the launch of the program allowed us to stimulate demand for new buildings, which was reflected in the volume of housing under construction. Since 2020, these volumes have more than doubled in the Far Eastern Federal District - from 2.3 to 5.3 million square meters,” said Sergei Potanin, director of the social projects department of the Far East and Arctic Development Corporation.
