This text is translated into Russian by google automatic human level neural machine.
EastRussia is not responsible for any mistakes in the translated text. Sorry for the inconvinience.
Please refer to the text in Russian as a source.

The Far East is waiting for millions of square meters of housing

Concessional lending programs and complex projects for the development of territories in the regions of the Far Eastern Federal District help to solve the housing problem of most citizens.

Special programs developed by the Ministry for the Development of the Russian Far East help people to buy an apartment in the Far East. Along with the "Far Eastern mortgage", which allows you to take out a loan for housing at the lowest possible percentage, the Far Eastern Federal District is launching a project of complex developments - it will provide the housing market with new proposals and will have a positive effect on the availability of real estate.

The Far East is waiting for millions of square meters of housing
Photo: Press Service of the Government of Sakhalin Region

The Far Eastern Quarter program was announced and launched only this year, but five regions of the Far Eastern Federal District have already begun to implement projects in their territories. In Kamchatka, they are only planning the territory, in Transbaikalia, a project for planning and land surveying for a quarter has been approved, Yakutia is preparing to start construction, and on Sakhalin and in the Magadan Region, it has already begun. In four other regions, pre-project analysis is now being carried out, and by the end of the year they will also launch the program there. Thus, in large cities of the Far East, microdistricts of complex development with a comfortable layout will appear: the minimum volume threshold for development companies is 50 thousand square meters. And in total, developers need to build 2,1 million "squares" throughout the federal district.

Most of this volume is going to be built by one of the largest enterprises in Russia - the PIK group of companies. The developer intends to build about 1,5 million housing in the Far East - the company signed an agreement on work within the framework of the Far Eastern Quarter program with the Ministry for the Development of the Far East and the Arctic and the KRDV. The federal developer has big plans: PIK plans to attract about 100 billion rubles in housing projects of the Far Eastern Federal District within eight years. In addition, the enterprise, like other participants in the Far East Quarter project, will receive special working conditions - the status of a resident of the TOP or the free port of Vladivostok and related tax benefits.

Regional authorities will also provide assistance to federal developers. Within the framework of the "Far Eastern Quarter", the entities will undertake the provision of infrastructure for construction sites. Such work is already being carried out in the Sakhalin Oblast: for this they use a bond mechanism at 3%, and they will also allocate money for the construction of social facilities in future micro-districts. We are talking about schools, kindergartens and sports facilities. This will not only speed up the construction of housing, but also reduce prices for it.

“The authorities of a region or a city undertake to provide the engineering infrastructure for such large construction sites. Accordingly, this money is no longer included in the cost of one square meter. On average, this is 10-15% of the cost of housing, ”said the Minister of Construction of the Sakhalin Region Alexei Kolevatykh.

Another significant help for large developers will be advantages in the allocation of new land plots. The corresponding decree is already being prepared for adoption by the Cabinet of Ministers of the Russian Federation. Under its terms, a developer who has already built a certain amount of housing a year earlier will receive a priority right to the site. Thus, federal companies are interested in building as much housing as possible in the Far East. The current situation on the real estate market also hints at this.

“Since about the middle of last year, the surge in demand has devastated the secondary market. It was stimulated by cheap mortgages - not only the "Far Eastern" one, and by the fact that the regional programs for the construction and provision of certain categories of citizens with housing failed. Prices in the secondary market have skyrocketed so that they are now almost on par with prices for new buildings. And in order to cool the market overheated by unsecured demand, it is necessary to build today. We need to build a lot, we need to build quickly, and therefore I would call the situation a positive expectation of new opportunities ", - assessed the situation by the ex-Minister of Construction of the Khabarovsk Territory, advisor to the director of the Housing Fund LLC Konstantin Pepelyaev.

The development of the Far Eastern Quarter program goes hand in hand with the Far Eastern Mortgage project, which was launched in 2019. Lending on special terms helps residents of the Far Eastern Federal District, primarily young families, to solve the housing issue - the banks participating in the initiative offer loans at an unprecedented rate of 2% per annum, and under some conditions it can be even lower.

Preferential mortgages have become an extremely popular product among the Far East: by the beginning of July 2021, banks had issued 21 loans for 843 billion rubles. Over 81,4 percent of mortgage loans were issued by residents of the Primorsky and Khabarovsk Territories, Yakutia, Buryatia and the Amur Region. In addition, residents of the Trans-Baikal Territory and the Sakhalin Region took out 82 loans each within the framework of the Far Eastern Mortgage.

Experts associate the growing popularity of preferential housing loans with dynamic changes in the program itself: it is adjusted to the actual needs of citizens. So, the Far East began to more often apply for mortgages for the construction of individual housing - in early July, banks issued 1,5 thousand loans for these purposes, in the amount of 6,2 billion rubles. In June alone, demand grew by 21,3%.

“A number of significant clarifications made it easier for young families and recipients of a land plot within the framework of the Far Eastern Hectare program to obtain a loan under the Far Eastern Mortgage program for the construction of a residential building on their land. This measure had a real effect and continues to work to increase the number of new applications. The second factor is seasonal. Summer is a good time for construction. Especially in permafrost regions like the Republic of Yakutia. It is no coincidence that the most significant increase in the number of new loans for the construction of your own house is here, ”said Sergei Potanin, Deputy Director of the Department for the Implementation of the Far Eastern Mortgage project of the KRDV social block.

The Anisimov family from Yakutsk issued a "Far Eastern mortgage" for the construction of a house on a site within the city. The future housing will be two-story, and the monthly loan payment for the spouses will be a little more than 20 thousand rubles.


The Far Eastern mortgage was received in November 2020 from one of the partner banks of the program - Almazergienbank. The loan amount was slightly more than 4 million rubles for a period of 20 years. We pay 20 200 rubles monthly. The amount for us is lifting. Now we live in a one-room apartment, but soon we will move to our own two-story house within the city, just 15 minutes from the center of Yakutsk. My husband and I are a little over 30. And soon we will have a two-story house! This is a dream that is coming true right now! " - shared a resident of Yakutsk Roza Anisimova.

In addition, the "Far Eastern mortgage" began to be more often taken in the Magadan region and the Chukotka Autonomous Okrug: special loan conditions were also introduced for these two regions. Now local residents can apply for a loan for secondary housing in cities - thanks to the innovation, by the end of July, over 600 families have acquired apartments.

“In the regions there are no offers on the primary housing market, and there were no plans for housing construction in the short term. The Ministry for the Development of the Russian Far East, together with the Corporation for the Development of the Far East and the Arctic, prepared and agreed on the appropriate changes to the program. Adjustment of the terms of the "Far Eastern mortgage" gave a significant increase. If in September 2020 only 13 loans were issued under the program in the Magadan Region, today there are already 656. To date, in Magadan and Chukotka, almost 800 young families and participants in the Far Eastern Hectare program have been able to improve their living conditions. In our opinion, Far Eastern Mortgage is working to consolidate young families in the region, ”said Sergei Potanin.

December 5: current information on coronavirus in the Far East
Digest of regional events and latest statistics