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MIL OSI Translation. Region: Russian Federation –

Resolutions of October 18, 2021 No. 1758 and No. 1759

The documents

Decree of October 18, 2021 No. 1758

Decree of October 18, 2021 No. 1759

The Far Eastern mortgage program, initiated by the President of Russia, will be extended to secondary housing in single-industry towns located in the Far Eastern Federal District (FEFD). The decree on this was signed by the Chairman of the Government Mikhail Mishustin.

A comment

From the opening remarks by Mikhail Mishustin at the Government meeting, October 22, 2021

The need for adjustments is due to the fact that in most single-industry cities of the Far Eastern Federal District it is almost impossible to buy an apartment on the primary market, which means that it is almost impossible to get a cheap housing loan provided for by the program. The resolution approved by Mikhail Mishustin will solve this problem.

Recall that the rate on the Far Eastern mortgage is 2%. It is available to young families (under 35) or single parents raising a child under the age of 18.

Mikhail Mishustin announced the decision made during government meetings on October 22… It will help more than 2,000 families improve their living conditions.

Also, a decree was signed on amending the preferential mortgage program. The document approved by the Government will open up the possibility of lending to citizens wishing to buy or build a private house at a rate of 7%. It will be possible to get a cheap loan until the end of the preferential mortgage program – that is, until July 1, 2022.

The decree will allow issuing about 15 thousand loans for the purchase and construction of private houses. The total amount of loans will exceed 30 billion rubles.

The signed documents amended Government Decree of December 7, 2019 No. 1609and Government Decree of April 23, 2020 No. 566.

EDITOR’S NOTE: This article is a translation. Apologies should the grammar and or sentence structure not be perfect.

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