The Russian government is considering steps to raise the cap on concessional housing loans within the country. This development, reported by the financial press, cites the Ministry of Finance as a primary source of the information.
The Ministry notes that additional funding appears necessary to support the program in light of a sharp move in the key policy rate, which rose from 8.5 percent to 13 percent, alongside growing interest in government housing initiatives. This combination has intensified program activity and stretched financing resources that previously backed subsidized loans.
Observers point out that the surge in demand for privileged housing loans occurred during August and September, a period when the rate increase was implemented. As a consequence, banks were compelled to deploy their allocated quotas more rapidly as borrowers rushed to secure subsidized financing before funds ran out.
Izvestia reports that banks may continue offering privileged housing loans even if the official cap is temporarily exceeded. However, such a move could pressure the profitability of lending institutions, prompting some banks to pause issuance under state programs until further clarity and funding are available.
Earlier, it was disclosed that the Ministry of Construction and Housing and Communal Services intends to finalize the core parameters of the preferential mortgage program for individual housing construction, aligning policy levers with the needs of prospective homeowners while managing fiscal exposure.
There are reports that residents of Moscow and the Moscow region have access to a record pool of mortgage options, reflecting local demand dynamics and the effectiveness of the subsidized loan framework in major urban areas. This situation underscores the ongoing effort to balance affordability for homebuyers with prudent credit risk management across the market.