The head of Russia’s Ministry for the Development of the Far East and the Arctic, Alexey Chekunkov, announced that the upper ceiling for the Far Eastern mortgage loan would rise to 9 million rubles by the end of the year. This update was reported by TASS and reflects a broader policy push to accelerate housing construction and ownership in the region.
Chekunkov frames the Far Eastern Mortgage as a cornerstone of the ministry’s strategy to double the pace of housing commissioning across the Far East, impacting both residents and regional businesses. By extending credit availability and reducing the cost burden, the program seeks to stimulate demand and unlock more residential supply in the vast, sparsely populated areas of the Far East.
“More housing means more options for buyers, which helps reduce prices over time and sustains higher demand”, the minister stated, outlining the logic behind expanding access to mortgage lending in the region.
Earlier, the Russian leadership signaled support for raising the mortgage limit to 9 million rubles and for expanding the program’s coverage to include all employees within the country’s military-industrial complex stationed in the Far East. The move is designed to attract investment, retain local talent, and support long-term regional development goals that hinge on a steady flow of housing and related services.
On September 11, Gadzhimagomed Guseinov, the First Deputy Minister for the Development of the Far East and the Arctic, noted that the rate of new housing commissioning in the Far East continues to exceed the national average. He attributed this growth to the president’s decision to implement Far Eastern mortgages at 2% and highlighted that a substantial portion of new housing loans in the region originates from this program—about 80 percent in the period observed. This indicates strong reliance on the program as a driver of construction activity and mortgage uptake in the Far East.
At the same time, Russian officials have acknowledged the potential risks associated with rapid mortgage expansion, including the possibility of overheating if demand surges too quickly or if lending standards loosen. Stakeholders emphasize the need for careful oversight, sustainable loan conditions, and measures to ensure that increased credit availability translates into real housing supply and long-term affordability rather than short-term price spikes. Analysts suggest monitoring macroprudential indicators, such as debt-to-income ratios and loan-to-value limits, to balance growth with stability. The overall objective remains to increase housing stock, improve living standards, and support regional economic diversification while safeguarding financial resilience among borrowers.
As the program evolves, practical details such as eligibility criteria, processing timelines, and the geographic coverage of supported projects are watched closely by households, developers, and regional authorities. The ongoing policy conversation reflects a broader effort to align federal support with local market dynamics, ensuring that the Far East can attract investment, attract workforce, and build sustainable communities amid diverse climatic and geographic challenges. In this context, the Far Eastern Mortgage is seen as a key instrument that can help bridge the housing gap and contribute to the broader goals of regional growth and social welfare. Citations: TASS; official statements from regional authorities.