Russian President Vladimir Putin instructed to extend the preferential mortgage program until July 2024, writes TASS with reference to the meeting of the Council for Strategic Development and National Projects.

Details. Putin said that the program will last until July 1, 2024, while the mortgage rate will rise from 7 to 8%. The President noted that residents of the occupied territories would be given preferential mortgages at a rate of 2%.

The President added that the preferential mortgage mechanism will be gradually phased out, however, at the same time, the authorities intend to expand access to family mortgages for families with two children under 18 years old.

Big Picture. Experts believe that the program of preferential mortgage housing is one of the reasons for the sharp increase in property values. Paper talked about this in detail: