The Far East mortgage program with a preferential rate of 2% is set to be extended. This was stated by Russian president Vladimir Putin during a meeting with Primorye head Oleg Kozhemyako, according to TASS. The discussion centered on broadening the program’s reach and ensuring continued support for borrowers in the region. Putin affirmed that the deadline for the initiative would be extended, signaling a sustained government commitment to affordable housing in the Far East.
Kozhemyako described the program as a practical instrument that has helped many residents, noting that there have been requests to expand its scope to include residents under the age of 40, a group that today commonly falls under 35 in eligibility terms. The president responded that work would proceed to address these requests, underscoring a willingness to consider adjustments to age limits as part of a broader policy effort.
Earlier updates show the government already moving to keep this support alive. In August, the indefinite extension of the 3% rural mortgage program was announced, while in July, authorities pledged an additional 45.5 billion rubles to advance preferential mortgage initiatives. These financial commitments reflect a wider strategy to stabilize housing access and stimulate regional development through targeted credit incentives.
At the same time, a separate discussion pointed to housing market accessibility challenges. Olga Batalina, the first deputy minister of labor and social protection, highlighted that at least 40% of Russian families face barriers to obtaining any mortgage, including those with preferential terms. This acknowledgement aligns with concerns about eligibility gaps and affordability in a market where long loan terms can influence family planning decisions. The practical impact of mortgage conditions on household choices remains a focal point for policymakers and researchers alike, as they weigh the benefits of home ownership against long-term financial obligations.