Russian Finance Ministry Aims for 25-30% of Mortgages to be Subsidized by 2030

© изображение сгенерировал ИИ

By 2030, the share of subsidized programs in mortgage lending is expected to decrease to 25-30%. These plans were announced to the newspaper Izvestia by the Ministry of Finance.

Deputy Finance Minister Ivan Chebeskov emphasized that currently, government programs account for nearly 90% of mortgage lending in the primary real estate market. However, the authorities believe this situation needs to change.

"Building state policy on the premise that the majority of lending will be on preferential terms is wrong," Chebeskov noted.

He added that there are no plans for drastic measures to achieve the target level. The reduction in the share of subsidized mortgages will happen gradually, as the key interest rate decreases and the volume of market-based lending grows.