OREANDA-NEWS   The Russian government may consider changing the interest rate on preferential mortgages for new buildings in 2023. The adjustment was made by Deputy Prime Minister Marat Khusnullin.

"We agreed that we kept the mortgage at eight percent for everyone, because inflation is higher. But we will see how it will go next year, if we adjust anything," Khusnullin said. In December, the preferential mortgage program was extended until July 1, 2024, but with an increased rate by one percentage point.

Earlier, President Vladimir Putin announced that Russia will begin to wind down preferential mortgages for new buildings. The Head of State noted that the rejection of the program will occur smoothly.

In December, the Central Bank proposed to limit the issuance of preferential mortgages so that the borrower could take out such a loan only once. According to the head of the financial stability department of the regulator, Elizaveta Danilova, the adoption of the measure will make the program more targeted and reduce the risks of overheating in the real estate market.