The State Will Help Young Families Buy Homes
The government has decided to allocate new funding to the “Affordable Housing for Young Families” program, which helps families purchase housing by subsidizing a portion of the loan interest rate. This makes it possible to reduce monthly payments and acquire housing at a more affordable price.
According to official data, approximately 7589 families already benefiting from the program will continue to receive state support and will not lose their subsidy; mortgage payments will remain lower for them than under ordinary market conditions. However, according to the forecasts of VVK CJSC, this support will continue if the MESCS (Ministry of Education, Science, Culture and Sports) increases the amount budgeted for 2025.
In addition, the program will also be able to support 690 new families who are preparing to use a subsidized mortgage for the first time.
The program also includes about 72 families who wish to purchase apartments in newly constructed buildings and will be able to take advantage of more favorable terms.
With this decision, the government is attempting to alleviate the housing concerns of young families so that more people can own their own homes without a heavy credit burden.