Russians invest 16 trillion rubles annually into housing - Husnullin

© Кремль

Russian President Vladimir Putin held a working meeting with Deputy Prime Minister Marat Khusnullin, during which they discussed the results of the construction industry, housing development, mortgage programs and the fulfillment of obligations to real estate buyers.

According to Khusnullin, the key factor in maintaining high construction rates remains state support for mortgage lending, particularly family mortgages. He noted that the program continues to enjoy steady demand and borrowers are fulfilling their obligations.

"Despite changing economic conditions, citizens continue to use family mortgages at a rate of 6%. All state obligations under existing mortgage programs are being fully met," the deputy prime minister emphasized.

Putin described mortgages as one of the most reliable financial instruments, drawing attention to the minimal level of overdue debt. Khusnullin clarified that the share of overdue mortgage loans is less than 1%, which remains one of the best indicators among retail banking products.

During the meeting, data was also presented on household investments in the housing sector. According to Khusnullin, Russians annually invest about 16 trillion rubles in housing, making them the largest investors in the industry. State support for mortgage lending, he estimated, stimulates additional investments by citizens in real estate.

The deputy prime minister noted that the market is gradually reviving: as interest rates fall, interest in market mortgages is growing, and some citizens are again considering real estate as an attractive investment. In this regard, the government intends to maintain current levels of housing construction.

Khusnullin separately stressed that the priority task remains the timely transfer of purchased housing to buyers.

"The most important thing is that people receive all the houses and apartments they have paid for," he said.

The president supported this position, emphasizing that housing should be delivered to citizens not only on time but also in compliance with all quality requirements.

"And on time. Of the required quality," Putin stated.