The document provides for the development of additional financial mechanisms for the acquisition of housing and best regional practices.
An additional financial mechanism includes, in particular, accumulative housing accounts, through which borrowers will be able to accumulate a down payment and reduce the mortgage rate.
The Central Bank plans to continue work on creating a system in Russia that will allow those who wish to buy housing faster, save up for a down payment on a mortgage. This is stated in the draft document published by the Central Bank “The main directions for the development of the financial market of the Russian Federation for 2023 and the period of 2024 and 2025.”
Within the framework of the system, regional programs for subsidizing housing savings are supposed to accelerate the accumulation of a down payment and increase the availability of mortgage lending for citizens. In addition, the system of housing savings will expand the long-term resource base of credit institutions, as well as allow them to manage their mortgage portfolio more efficiently, the Central Bank notes.
The best regional practices, as indicated in the Strategy, include the provision of housing in installments for certain categories of citizens.
We can talk about teachers, doctors, IT workers, narrow specialists in industry, Alexander Yakubovsky, a member of the State Duma Committee on Construction and Housing, believes, Izvestia reports.
It would be logical if each region determines such categories on its own, depending on the need for certain professionals, he believes. According to the deputy, installments should be issued for the full term of payments, regional authorities will pay interest for citizens. This is commensurate with the costs of subjects to pay rent for housing for such specialists. But at the same time, the mechanism will give more guarantees that the employee will stay in the region for a much longer period.
In addition, the installment mechanism is supposed to be used when resettling emergency housing, the Strategy says. One of the options for improving housing conditions is the provision of residential premises in exchange for uninhabitable ones under an exchange agreement with the possibility of installment payment by citizens of the difference between the cost of the provided residential premises and the redemption value of the withdrawn uninhabitable housing for up to 15 years.