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By 2010, 30% of families will be able to buy a home

July 20 2006

During the meeting with the leadership of the Far Eastern federal district, the First Vice-Premier of Russia Dmitry Medvedev said the government plans to significantly increase the volume of loans for housing.

Vice-Premier said: "Our first task is to increase housing affordability. Here the main focus is the development of mortgage lending. There is no alternative to the development of this form no. The share of families who will have the opportunity to purchase housing through equity and debt, should by 2010 be at least 30%.

Under government plans, this year volumes of housing loans will be increased to 100 billion rubles, and by 2010, loans will be increased to 415 billion, reports Interfax .

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