Government promises affordable housing market

Igor Shuvalov, second in charge of the Kremlin staff, has said the Russian government is set to promote an affordable housing market in the country. Mr Shuvalov is the co-ordinator of a newly established working group, which is dealing with the problem.

Mr Shuvalov addressed the State Duma, or the lower house of parliament, Wednesday and said that it was a priority objective of the president and the government.

Housing construction has reinvigorated in Russia in recent years. However, new dwelling houses are too expensive for the majority of people, although 77% of the Russian population need better living conditions.

The Kremlin official emphasised that affordable would not mean cheap housing. He said it was necessary to promote the development of residential mortgage loan programmes and the emergence of mutual crediting societies. Mr Shuvalov then found it necessary to develop housing construction capabilities and remove administrative barriers, which make housing still more expensive. He did not rule out that the government may step in to cut housing prices.

Mr Shuvalov set MPs a task to draft a concept of affordable housing market development along with the Cabinet of Ministers. He said the relative laws must be drafted by no later than next autumn.

The needy will preserve their right to free housing with the emergence of the affordable housing market, emphasised another Kremlin official.

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