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Putin urged to further reduce mortgage rates in Russia - EastRussia | Far East

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Putin urged to further reduce mortgage rates in Russia

Putin urged to further reduce mortgage rates in Russia
Photo: pixabay.com

At a meeting of the Council for Strategic Development and National Projects, President Vladimir Putin asked the government to continue working to reduce mortgage rates in Russia. In his opinion, now the country has already achieved good results in this area.

“It is very important to continue working on reducing mortgage rates. The fact that by the end of the year it fell by an average of less than 9% is, I think, a very good indicator, ”Putin said.

According to Deputy Prime Minister Vitaliy Mutko, this year the rate was reduced to 8,7% - this is an indicator of 2020. He noted that the mortgage market is one of the elements of housing policy. Since up to 40% of citizens cannot take a mortgage, they will be supported. Now the government is considering the issue of housing for low-income citizens. They plan to develop a segment of non-commercial rent for them, subsidizing the rental rate from the budget. Mutko said that under such a program it is possible to build about 30-40 million square meters. meters of housing.

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