The Ministry of Construction, Housing and Communal Services plans to finalize the main parameters of a preferential mortgage program for individual housing construction by year-end. The Minister announced the move during a major industry forum, signaling that the government’s agenda includes concrete steps to support home buyers and stabilize the market. After internal review, these parameters will first be reviewed by government bodies and then forwarded to the legislative chamber for consideration.
Officials emphasize that preferential mortgage programs are central to expanding access to home ownership. The team is pursuing a broad set of reforms intended to modernize mortgage products and improve the overall appeal of home loans. One related proposal under discussion involves a mechanism to hold mortgage funds in escrow accounts in order to safeguard citizens’ money and reduce risk of misappropriation by developers. If enacted, the escrow framework would add a layer of protection for buyers and create clearer incentives for responsible project financing.
Industry observers note that, in parallel, market dynamics continue to influence housing costs. Some experts point to the way developers adjust the size of new apartments as a factor in price movements. Historically, reductions in unit area aimed at accelerating sales have, paradoxically, contributed to higher per-square-meter pricing. As demand remains robust and buyers reserve funds over longer horizons, overall housing prices can rise even when individual apartment sizes are trimmed. This cycle underscores the tension between speed-to-sell strategies and affordability for prospective buyers, highlighting the need for balanced policies that promote transparency, value, and long-term stability.
Recent market data from major urban regions indicate records in mortgage activity, underscoring the ongoing demand for borrowing to finance home purchases. Analysts and real estate professionals continue to monitor how regulatory changes, credit conditions, and development practices interact to shape affordability and access to credit for families and individuals seeking to build or acquire new homes. The evolving policy landscape aims to align incentives across developers, lenders, and borrowers, fostering a healthier, more predictable housing market for cities across the country and beyond.