The Russian budget will allocate roughly one trillion rubles between 2024 and 2026 to expand benefits linked to mortgage lending. This figure was reported by the Ministry of Finance of Russia, as noted by RBC. The ministry emphasized that improving living conditions for citizens remains a priority, and that the leadership will take targeted steps to support families and individuals in need.
A spokesperson for the ministry explained that aid should be directed more precisely to increase the effectiveness of large-scale assistance programs. This approach aims to ensure that support reaches those who genuinely require it, while still monitoring the evolving concessional loan market. The discussion covers not only mortgages but also lending for a variety of purposes.
In 2022 the government extended the validity of preferential mortgage programs through July of the following year. The ministry’s materials highlighted that family mortgages and concessional loans have the broadest coverage, with a preferential rate of 8 percent for apartments in new construction.
Earlier, President Vladimir Putin supported extending the concessional family mortgage to a six percent rate. This decision reflects ongoing efforts to balance housing access with fiscal responsibility, as authorities assess program effectiveness and market conditions.
As the policy landscape evolves, officials are evaluating how to sustain broad access to affordable housing while ensuring that public funds deliver tangible benefits to a wide range of households. Observers note that such reforms are part of a broader strategy to stabilize housing markets and support residential construction, all within the framework of prudent budgeting and fiscal oversight.