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MOSCOW, December 2 – RIA Real Estate. The government is taking measures to increase the down payment on preferential mortgages, Deputy Prime Minister Marat Khusnullin told reporters after inspecting the exhibitions of the Ministry of Construction “Building the Future” and the Ministry of Transport “Russia on the Move” at the exhibition-forum “Russia”.
"Mortgage will develop. Until June 1 of next year, we have a family and preferential mortgage. Now we are taking some measures to increase the down payment,” he said.
According to the Deputy Prime Minister, the volume of mortgage issuance is now quite large and the authorities are considering how to regulate it.
This year, the growth of the mortgage portfolio is estimated at more than 3.5 trillion rubles, while in 2022 it was two trillion, Khusnullin added.
Russia currently has several preferential mortgage programs. The most common preferential mortgage program operates throughout the country: under it you can get a loan to buy an apartment in a new building or build a house at a rate of no more than eight percent per annum. The maximum loan amounts are 12 million rubles in Moscow and St. Petersburg and six million rubles in other regions. In September, the down payment was increased to 20 percent.