The Far East preferential mortgage program is set to continue at least through 2030, according to statements made by Russia’s president during discussions at the Eastern Economic Forum. The government has signaled a strong commitment to keeping this benefit available for qualified buyers in the region, and the plan is to maintain its favorable terms over the coming years. The rate remains notably low, continuing at 2 percent, which is designed to keep housing within reach for families and individuals meeting the program’s eligibility criteria. In addition, officials have announced an extra commitment to city renewal in the Far East, earmarking an annual sum to support renovations and modernization across key urban areas.
In a separate development, the rural mortgage program, commonly described as a concession loan initiative, was declared to extend indefinitely with the same favorable rate of 3 percent. This move ensures that residents in rural districts can pursue loans to purchase or construct their homes without the fear of deadline pressure that could jeopardize participation in the program. The extension reflects a broad government aim to boost rural housing opportunities and support regional development, even as the programs evolve to meet long-term housing needs in the countryside.
Officials also outlined ongoing fiscal measures to support these preferential mortgage schemes, indicating additional funding toward their implementation. The decision to maintain the current rates alongside increased budget allocations underscores a sustained policy priority centered on housing accessibility and regional growth. The overarching objective is to expand home ownership possibilities for a wide range of citizens while reinforcing the development of the Far East region and strengthening rural communities across the nation.