It is planned to extend mortgage rate subsidy program - Russian Ministry of Construction

UFA, 11 February 2016. /Bashinform News Agency, Ksenia Kalinina/. The program of subsidizing mortgage rate to 12 percent in primary housing market will be extended until the end of 2016. This was reported by the Minister of Construction and Housing of Russia Mikhail Men’ at the "Real Estate Market Results of 2015" business forum on February 10.

"The program has played a major role in stabilizing the situation in the real estate market. Every third apartment purchased with assistance of a mortgage loan has been taken on this program, and it gave the corresponding result”, commented the Minister. “As of January 1, 2016, 210.6 thousand mortgage loans were granted under the program for a total sum of 374.3 billion rubles".

Mikhail Men’ drew attention to the fact that it was decided to extend the mortgage rate subsidy program. "So far we are talking about the extension till the end of 2016, the terms are being specified", underlined the Minister.