Family mortgage has become the most popular state program among Russians according to the results of 2023, Deputy Prime Minister of Russia Marat Khusnullin said on the Day of the Construction Industry and Housing and Communal Services at the international exhibition and forum “Russia”. His words were quoted by TASS.
According to Khusnullin, in 2023, Russians received 7 million mortgage loans, 2.4 million of which were under government programs.
“…This is 1.5 times more than in 2022. The growth of the mortgage portfolio in 2023 amounted to 4 trillion rubles. This is twice as much as in 2022. Very well “promoted” [программа] “Family Mortgage” has become the largest volume in recent years for the first time,” Khusnullin emphasized.
He announced that from 2020 to 2024, Russians’ mortgage debt increased to 18 trillion rubles. The Deputy Prime Minister called on the authorities to continue the development of mortgages in Russia and announced that they should make decisions on the parameters of long-term preferential socially oriented mortgages by July 1.
The Russian government plans to cancel the issuance of collective concessional mortgages for new buildings from July 1, 2024 and expand the program only in regions with low demand. At the same time, the authorities will also extend the family mortgage.
Earlier, in a conversation with the Central Bank of the Russian Federation socialbites.ca guess Mortgage market cooling in Russia in 2024.
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Source: Gazeta
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