The new housing market relies on subsidized loans for 90%, with Russia's Ministry of Finance proposing a phased reduction in preferential mortgage schemes
According to Rossiyskaya Gazeta, Russia's Ministry of Finance expects that by 2030, the share of preferential mortgages in newly issued loans will drop to 25%–30%.
Currently, the situation is exactly the opposite: nearly 90% of mortgages in the new housing market enjoy state subsidies. Deputy Minister of Finance Ivan Chebyskov stated that the national housing policy cannot solely rely on credit subsidies for support.
The Ministry of Finance emphasized that no radical measures will be taken. The share of preferential mortgages will gradually decrease, with the pace aligned with the decline in benchmark interest rates and improved affordability of market-based loans.
Original source: toutiao.com/article/1868124263655436/
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