Kremlin

President of Russia

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RESOLVING THE HOUSING PROBLEM |

Diary |  |

May 26 2004

All levels of executive power should aim for a situation when by 2010 at least one third of citizens can buy an apartment that meets modern requirements, using their own savings and with the help of housing loans, President Vladimir Putin announced in his Address to the Federal Assembly.

Financial mechanisms are required which make it possible to improve housing conditions not only using people’s current incomes, but also their future incomes. Clear legal conditions are required for the development of long-term housing loans.

Mortgages should become accessible for people with average incomes. Forms of financing should be developed such as citizens’ participation in shared housing construction and housing saving programmes.

It is necessary to destroy monopolies on construction markets, to ensure property rights of bona fide purchase of housing, and to establish order in the sphere of providing social housing.

Additional measures should be examined on special support of individual categories of citizens, especially of young families.

| Address to the Federal Assembly of the Russian Federation

December 18 2003

The government should decide on large-scale steps in reforming housing and municipal services, said Vladimir Putin, replying to questions on a live television and radio broadcast.

Enormous funds are sent from the federal budget and regional budgets to monopoly enterprises, which are not interested in reducing their expenses and improving their quality of work.

Market conditions need to be created, and the money needs to be sent not to these enterprises, but directly to citizens, so that they order the services. In many cities, experiments of this kind are already been conducted.

It is also necessary to expand mortgage lending significantly, so that working people can receive loans on their salaries to buy and build their homes.

| Excerpts from the President’s live television and radio dialogue with the population

| Previous events

«The government, regional and local authorities should work towards having at least a third of the population (and not a tenth, as is currently the case) able to buy housing that meets modern standards by 2010. They will buy housing through their own savings and with the help of mortgage schemes.
This means that mortgage schemes must become long-term and affordable for people. In order to prevent the situation when increased demand for housing pushes up prices competitive conditions for housing construction need to be ensured».
From the Annual Address to the Federal Assembly, May 26, 2004

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