Instructions issued for drafting mortgage benefits for families of foreign investment contributors, per Putin's orders
Russian President Vladimir Putin Outlines Measures to Support Families and Construction Sector
Moscow, Russia - Russian President Vladimir Putin has assigned various tasks aimed at boosting mortgage benefits for specific groups and enhancing the financial stability of construction companies. The tasks, published on the Kremlin website on May 23, primarily focus on providing support to families and the construction sector amid ongoing economic challenges.
President Putin has been instructed to develop proposals that expand mortgage benefits for families of special military operation participants and those with children under 14 by June 15. Additionally, he has been asked to present proposals for increasing mortgage limits based on family size.
Besides mortgage-related initiatives, Putin has also tasked the authorities with taking measures to reduce bankruptcy risks among construction companies. According to a recent report by 360.ru, banks have been banned from charging fees for mortgage loans.
In other recent developments, the Kuban region has emerged as one of the top five regions in Russia for mortgage lending volume. The average size of a mortgage loan in March 2025 was 5.5 million rubles, a 5% increase from March 2024, when the average stood at 5.2 million rubles.
In the broader context, the Russian government has intensified its support for the mortgage market, with state subsidies reaching 1.7 trillion RUB between 2022 and 2024. These subsidies have resulted in nearly 70% of the growth in mortgage lending in early 2024. Additionally, the government has provided preferential loans and credit holidays for businesses to alleviate financial strain and support economic stability.
While specific details about new proposals directly attributed to Putin are not detailed in the available search results, the existing measures underscore a broader commitment to supporting families and the construction sector through economic support programs. Russia has faced significant economic challenges due to sanctions and falling oil prices, leading to a substantial budget deficit. The government has increased spending on defense and force generation efforts while managing economic risks as part of a broader strategy to stabilize the economy and support key sectors like construction.
- In the realm of general-news, besides mortgage initiatives, President Putin has asked the authorities to reduce bankruptcy risks among construction companies to financially stabilize this business sector.
- Additionally, in connection with politics, Putin has been instructed to develop proposals that expand mortgage benefits for specific groups, such as families of military operation participants and those with young children, demonstrating the government's commitment to supporting families during economic challenges.
