Photo by the press service of the Governor of the Moscow Region

Governor of the Moscow Region Andrey Vorobyov discussed with the leaders of leading construction companies in the Moscow region support measures in the face of sanctions. This is the second meeting of the governor with developers working in the region.

“Thanks to the president’s decision – both banks and the industry itself received significant support yesterday. We really hope that the increase to 12 million rubles. the amount of the loan at a fixed rate mortgage, as well as the preservation of family mortgages, will ensure the demand for housing in the Moscow region. An important issue is also building materials, their price, it is obvious that it affects the cost. Thanks to the FAS for promptly responding,” the governor said. – We work in partnership mode with all builders and developers. Our mission is to support you. I really hope that, through joint efforts, the Moscow Region will continue to lead successfully in providing comfortable housing.”

An anti-crisis headquarters is now working at the federal level, where systemic measures to support developers are being discussed.

All preferential mortgage programs are preserved (family – 6%, rural – 3%, until the end of March, loans up to 3 million rubles can be taken at the old rate – 7%). From April 1, the preferential rate will be 12%, the maximum loan amount will increase in the Moscow region to 12 million rubles.

“The new conditions for preferential mortgage lending will definitely support the market and return buyers who have postponed the purchase due to a sharp increase in the Central Bank rate. According to our estimates, demand will return to a level comparable to mid-2021, when the surge in demand amid the pandemic has already passed. A big plus for the Moscow region was the increase in the maximum limit to 12 million rubles. The rate of 12% in the current conditions is working, – said the President of FGC Vladimir Voronin. “Moreover, we have been waiting for these conditions and have already begun developing additional subsidized programs with banks based on preferential mortgages, which will make this tool even more accessible to home buyers.”

As noted by the General Director of the development company “City-XXI century” Anton Borisenkoin the current economic realities, a preferential mortgage rate for new buildings of 12% is a big support from the state: “The new conditions for preferential mortgages are more profitable than other basic banking products, and expanding the credit limit to 12 million will lead to an increase in lots that fall under the program.”

The Government of the Moscow Region has put forward a number of initiatives to the federal level to support the construction business. Some of them have already been adopted: permits have been extended for a year (urban planning plan for a land plot, building permit, etc.); the term for agreeing on the master plan and the rules for land use and development was reduced to a month, and hearings on them were combined.

The possibility of allowing companies to use escrow accounts after obtaining a compliance opinion is also being considered. The developer will be able to use the money earlier to use it to purchase building materials, complete the construction of social facilities under obligations or problematic facilities, if any. And also – to ensure control over the jump in prices for building materials with the assistance of the Federal Antimonopoly Service. It is important to establish new supply chains in order to completely replace imports. 90% of all materials used are domestic.

At the regional level, it was proposed not to stop construction until the circumstances were clarified if the State Construction Supervision Authority revealed violations, and not to conduct face-to-face inspections at the preparatory stage of construction.

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