Over 30,000 young families have bought flats taking out social mortgage in Kazan since 2005

Over 30,000 young families living in Kazan have bought flats taking out a social mortgage since 2005. This is the most popular programme for Kazan citizens among different feeral, republican and municipal ones, said head of the Housing Policy Office Renat Shamsutdinov at a Business Monday meeting in the city administration.

Young families in which the age of one of the spouses doesn’t surpass 35 years have been able to participate in the programme since July 2020 according to the Tatarstan president’s decision besides workers from the public sector and enterprises funding the social mortgage programme. As many as 1,090 young Kazan families have taken advantage of the possibility of improving their living conditions on preferential terms in the last two years. More than a half of them have already moved in new flats.

According to the terms of the programme, each of the family members must have no more than 18 square metres of the flat area, there must be permanent registration in the capital of Tatarstan, the down payment is not less than 10% of the flat price. Moreover, the mortgage at 7% a year is granted for nearly 30 years.

The cost of one square metre nowadays is a bit more than 56,000 rubles, which is much lower than in the market. So the price for a two-bedroom flat is some 3 million rubles. A preferential price for a flat with finishing and paying 200,000 rubles that are given when a baby is born help make dreams of one’s own home a reality. When two babies are born and maternity capital is paid, the payment for the flat reduces by a third and will total no more than 2 million rubles.

According to Shamsutdinov, one can get a new flat in this programme quickly enough: “It takes two months on average to submit the documents and get the keys. A family sometimes can move in the flat in a month. The flats don’t need investments and time for home repair because they are commissioned as Cat A fit out.

Except for this programme, Kazan young families can participate in Housing for Citizens municipal programme too. Over 14 years of its history, about a thousand families have accepted its preferential terms. For them, the price for flats is 20% down the market price. The mortgage term is 25 years. A block of flats in Yudino microdistrict was launched in 2022 for the participants in this programme.

Housing for Young Families of Kazan is another programme for families in which the age of one of the spouses isn’t over 35 years. People in this programme receive non-repayable subsidies to solve a home problem — from 30 to 35% of the home price. 345 young families have used this programme in the last 10 years.

As Kazan Mayor Ilsur Metshin noted, “housing for the youth is one of the basic problems.”

“Love in a cottage is just a saying. Of course, it is better to start a life in a comfortable flat. Market goals are high, and the preferential programme for the youth is a more real opportunity to get a home,” he indicated.

Angelina Panchenko

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