The government has extended payments to large families in Primorye until the end of 2025
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The Russian government decided extend a program of one-time payments to families of the Primorsky Territory in which a third or subsequent child was born until the end of 2025. About 1.4 billion rubles will be allocated for these purposes.
At the beginning of 2023, the size of the lump sum payment for large families in the Primorsky Territory was doubled. Now the amount is 1 million rubles. The funds can be used to fully or partially repay the mortgage.
Previously, Deputy Prime Minister Marat Khusnullin statedthat the government will extend the family mortgage program in all regions of Russia, and preferential mortgages will remain in effect only in those regions where they are in low demand. The ACRA rating agency expects mortgage portfolio growth to be in the range of 10–15% in 2024, which is half the level of 2023, but more optimistic than the current Central Bank estimates. The regulator forecasts mortgage portfolio growth of 7–12% for next year.
More details in the material “Mortgage awaits colder weather”.
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