Putin at a meeting with Mutko suggested thinking about benefits for the purchase of secondary housing

Russian President Vladimir Putin held a working meeting with Dom.RF General Director Vitaly Mutko. Mr. Mutko told the head of state about the situation in the housing sector and described the company’s development prospects. Details posted Kremlin press office. They also discussed the possible provision of benefits for the purchase of housing in the secondary market.

According to Mr. Mutko, over the past year, Dom.RF has been reorganized into a “full cycle” company. Among its competencies: involving land in circulation, attracting investments, supporting mortgages, infrastructure projects, supporting and issuing bonds. The management estimates the company’s assets at approximately 3 trillion rubles, 1.5 of which are put into the economy.

Nevertheless, Mr. Mutko notes that Dom.RF’s key area of ​​work remains the “social direction” – in particular, supporting the demand for housing through mortgages.

“Last year, despite the difficulties, 46% of mortgage loans issued were state-supported. And already out of 10 (units.—“b”) of purchased housing in the primary market 8 is bought with a mortgage, with state support,” said Mr. Mutko.

In terms of supporting demand, the head of Dom.RF also highly appreciated the effectiveness of family mortgage programs. However, according to Mr. Mutko, the existing structure of housing under construction in Russia “does not correspond to the structure” of Russian families.

“If you take a family of two or more children, then this is somewhere under 50%. And we are building 53% – one-room apartments. Of course, here we suggest that the government look at measures to stimulate the purchase of larger apartments,” the head of Dom.RF said.

In the same context, Mr. Mutko assessed the development of the individual housing construction (IZHS) market. Over the past year, he specified, the number of mortgages issued for this type of housing has tripled. Now, every 10th house is being built with the involvement of a mortgage. Dom.RF believes that statistics can be improved fivefold.

“Spread escrow accounts for developers, contractors, give the opportunity to distribute project financing here, standardize it. We are taking this very seriously. We created a digital super service that allows a citizen to choose a mortgage and a land plot. I see a very great prospect for individual housing here,” Mr. Mutko emphasized.

The head of state, in turn, asked if the head of Dom.RF sees prospects in creating conditions for preferential purchase of housing in the secondary market. “Would people like this? Still, this is also indirect, but it will have a positive impact on the industry,” the president noted. In response, Mr. Mutko said that “prices in the secondary market are lower than in the primary market,” therefore, this method of acquiring housing without state support remains “more preferable” for the population.

“It’s all the same (government support for demand for the secondary market.—“b”) will push the construction,” the President stated.

Regarding infrastructure bonds, Mr. Mutko said that Dom.RF is now implementing 25 projects worth 115 billion, while the portfolio still has about 50 such applications worth 300 billion. The project financing mechanism also justifies itself.

“Today, 98 million square meters are under construction, 90% is being built on project financing with escrow accounts. As a matter of fact, I would say, there is already a mature market, a competitive environment between banks. Imagine, now 12 trillion rubles are open projects, funding limits. 4.7 has already been selected, is under construction, and the average rate is 3.4%, ”said the head of Dom.RF.

Grigory Leiba