Buynaksk, Dagestanskie Ogni, Izberbash, Kizilyurt and Yuzhno-Sukhokumsk have joined the Russia’s Family Mortgage Program Family Mortgage Program. From April 1st, 2023, residents of 901 municipalities across the country will have access to this program.

Loans will be offered at an interest rate of 6% for the acquisition of apartments in the secondary housing market. Experts anticipate that the expansion of this program may slightly influence market prices. While there will likely be a surge in demand for these preferential mortgage loans, a substantial increase in prices is not expected.

This is attributed to the fact that the preferential loans are only applicable to apartments in buildings that are not more than 20 years old and do not require emergency repairs.