The new rental housing program is in dire need of support from the state budget.
Representatives of the State Mortgage Institution shared their worries that without government support they will not be able to fully implement a residential real estate leasing project at 3 percent per annum. The program will be able to really earn only when the mortgage institution begins to receive compensatory funds from the state for the purchase of residential real estate, which will be attracted in accordance with market prices. Relevant agreements are planned to be reached in the next few weeks. At the same time, experts draw attention to the fact that this leasing program, most likely, will not receive significant distribution, due to the fact that there are not so many lessees for this period of time. Until the end of this month, it is planned to carry out coordination activities regarding the government program, which provides for the possibility of providing citizens with housing on lease.
Financing of this program will be carried out exclusively at the expense of budgetary funds, since there are simply no other ways and sources of obtaining financial resources. Mortgage institution attracts funds necessary for the implementation of the program directly on the market. If we take into account all the costs of this program, then the average refinancing rate is about 15.3 percent. In order to be able to issue housing in accordance with this program, it is planned to attract funds provided for in the article “Affordable Housing”.
