110 bln roubles for the “Mortgage loan and rental housing” project in Russia

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110 bln roubles for the “Mortgage loan and rental housing” project in Russia
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More than 110 bln roubles are supposed to be invested in the “Mortgage loan and rental housing” project implementation in Russia.

Minister of Construction, Housing and Utilities, Mikhail Menn, spoke about it summarizing the results of the sitting of the Presidium of the Presidential Council on strategic development and priority projects.

Prime-Minister, Dmitry Medvedev, speaking at the beginning of the event, remarked that “Mortgage loan and rental housing” is the first priority project ready for adoption with all target indexes: volume of housing to put in operation, the number of lent mortgage credits, volumes of annual financing of the priority projects and availability rate.

According to Construction Minister, the task to achieve the volume of 100 m square meter to be put in operation is assigned. The mortgage loan is to grow from 700,000 credits lent in 2015 to 1,000,000 in 2018 and 1,200,000 in 2020.

The pilot projects financing is to achieve 15 bln roubles in 2018 and 20 bln roubles in 2020. To achieve the target figures within the priority project 80 bln roubles will be allotted from the federal budget and 34 bln roubles – from regional budgets.

He also spoke about the developed regulations on housing construction projects support. By the end of the year projects will have been selected, and in 2017 – their realization will start. “The most important is that the final decision on allocation of 20 bln roubles a year to support regional developers has been taken for provision of engineering, transport and social infrastructure within the complex development of territories”, Mikhail Menn stressed.