And what will the percentage be?
Russian President Vladimir Putin instructed the government, by July 30, 2024, to prepare proposals to provide families with children with the opportunity to purchase housing on the secondary market using a preferential mortgage in those settlements where “housing construction is carried out in insufficient quantities.” Until November 30, the Cabinet of Ministers must “ensure the implementation” of the proposals presented. This was reported on the Kremlin website. Who can get preferential housing loans on the secondary housing market?
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The instructions of the head of state did not surprise those interviewed by MK. experts. Back in February 2024, Vladimir Putin, speaking to the Federal Assembly, proposed extending the family mortgage, which ends at the end of June, until 2030. At the same time, the president instructed the government to pay special attention to families with children under six years of age. For such families, the preferential loan rate will remain the same — 6%.
As noted by “MK” Director of the mortgage lending department of Est-a-Tet Alexey Novikov, the initiative to extend preferential mortgages to secondary housing was bound to appear sooner or later. In his opinion, such a measure is necessary, relevant and expedient, since it increases the affordability of purchasing an apartment or other real estate in small settlements where the primary market is not developed and there are a small number of new buildings. This means that young families will be able to stay and live and work in these small towns and villages. Moreover, according to Novikov, it would be correct to extend family mortgages to secondary housing in all regions of the Russian Federation.
For now, we are talking, rather, about expanding the family mortgage (intended for families with children), and not about the preferential mortgage that any citizen can receive, — noticed «MK» Managing Director of the company «Metrium» Ruslan Syrtsov. According to him, supporting demand in the secondary housing market is now necessary, since mortgage rates for secondary buyers are higher. are not subsidized, and their market level reaches 16.8% per annum. At the same time, the market for new buildings cannot be a full-fledged alternative for those buyers who cannot become shareholders and wait for the completion of construction (no place to live, no money for rent).
There are relatively few finished housing from developers, 5-10% of the total number of offers on the primary market. At the same time, there are cities where there are few new buildings, and for their residents a preferential mortgage for secondary housing will be relevant. The only question is how “insufficiency” will be defined. volumes of housing construction. “In cities with underdeveloped construction of apartment buildings, a lot of individual housing is often built or the need for new buildings is not high at all, since young people leave these locations due to lack of work and low incomes. In the latter case, the feasibility of preferential loans for the secondary market in such cities is doubtful,” — added Syrtsov.
According to his assessment, in the current situation one should not expect an increase in prices for secondary housing due to the extension of preferential mortgages to apartments in cities with a small market for new buildings. These are mainly small settlements in which the demand for housing is generally weak. “Much will depend on how localities for distribution of the program are selected. If it affects many large cities (more than 100 thousand inhabitants), then prices for secondary housing in them, if they do not increase, will stabilize,” — Syrtsov noted.
According to Optima Development commercial director Dmitry Golev, such benefits for citizens should not be introduced on a long-term basis. “It is much more correct to create optimal conditions for the activities of development companies, in particular, to reduce the fee for changing the type of permitted use (AUR), introduce tax preferences, and encourage the creation of social infrastructure. Still, old secondary housing — a low-liquid asset that is difficult to convert into a modern apartment,” — Golev added.
Recall that the decree of the President of the Russian Federation refers to families with children, other recipients of possible preferential mortgages for secondary housing. Not yet. According to Syrtsov, if the authorities decide to develop this program, then, of course, it is necessary to include doctors and teachers, whose shortage in small settlements is only getting worse. And preferential mortgages for secondary housing can become a factor keeping socially important specialists in small or depressed locations. It is also possible to expand the effect of such a mortgage, in his words, on an age basis, say, to young Russians under the age of 30-35, in order to also encourage them not to leave their hometowns.
According to Golev, the list In addition to large families, beneficiaries on the secondary housing market should also include doctors, teachers, disabled people, trainers, defense industry workers and veterans of the Northern Military District.