The Ministry of Eastern Development updates the parameters of the Far Eastern and Arctic Mortgage program

The Ministry of Eastern Development proposes to increase the lending limit under the Far Eastern and Arctic Mortgage program by another 75 billion rubles, to 1.42 trillion rubles. This is due to the upcoming expansion of the program – in particular, we are talking about eliminating the requirement for a five-year work experience required to receive a loan for doctors and teachers, as well as the possibility of using an increased amount of up to 9 million rubles. maximum loan amount for purchasing housing on the secondary market of single-industry towns.

The Ministry of Eastern Development has prepared a draft government resolution providing for the expansion of the Far Eastern and Arctic Mortgage program. It has been in effect since the end of 2019 and applies to all regions of the Far East, and from the end of November 2023 to the Arctic zone. The program is valid until 2030. Preferential loans at 2% per annum are provided, in particular, to young families for the purchase of housing or construction of a house, employees of medical and educational organizations, as well as participants in the Far Eastern Hectare program. The loan amount is up to 6 million rubles, but for housing with an area of ​​60 sq. m. m – up to 9 million rubles. (see “Kommersant” dated September 12, 2023). During the program, 97 thousand loans were issued in the amount of over 435 billion rubles.

Expansion of the program, as follows from the draft resolution, involves increasing the total loan limit from 1.35 trillion rubles. up to 1.42 trillion rubles. At the same time, the circle of potential participants in the program is expanding, and the purchase of housing through subsidized loans becomes more variable.

Thus, to expand the range of borrowers, the Ministry of Eastern Development proposes to eliminate the requirement for five years of work experience for teaching and medical workers who wish to receive a loan. The program also includes participants in the military operation in Ukraine – without requirements for marital status and age. Increased loan size of 9 million rubles. for the purchase of housing with an area of ​​60 sq. m is proposed to be used not only in the primary, but also in the secondary market (in the territory of the Far Eastern and Arctic single-industry towns). Let us explain that the opportunity to purchase housing on the secondary market of single-industry towns was introduced in 2021 due to the small volumes of new construction in single-industry municipalities – but purchases had to fit within the standard 6 million rubles. Obviously, the idea to increase the threshold is related to limited supply and rising prices.

For Arctic mortgages, it is planned to provide relaxations in terms of the price per square meter. With the inclusion of the Arctic in the preferential program to stimulate a reduction in housing prices, a limit was set on the cost per square meter of housing purchased in this macroregion at the level of 90–100 thousand rubles. (this requirement does not apply only to individual housing construction, including on “Arctic Hectares”). However, these thresholds do not correspond to real prices in a number of Arctic cities, which limits the purchase of housing through loans with government support. In particular, the governors of the Arctic regions asked to raise the maximum price per square meter. As previously noted by the head of the Ministry of Eastern Development Alexey Chekunkov, the department was considering two options: revising the methodology for calculating prices for the Arctic regions or abandoning this requirement within the framework of the program. As follows from the presented document, it is planned to take the second path – the provisions that the cost per square meter in housing purchased with state support in the Arctic should not exceed the established threshold are excluded.

Evgenia Kryuchkova