In Ryazan, Family Mortgages for Resale Properties Are No Longer Available

In early January, DOM.RF updated the list of settlements where the purchase of housing on the secondary market is allowed under the family mortgage program.

Which cities made it to the lucky list and what alternatives others should consider — we analyze in our article.

The state program of preferential family mortgage appeared during the pandemic as a measure to support the banking and construction industries, as well as a way to improve housing conditions for Russians amid economic instability. Its goal was twofold: not only to help families with children, but also to stabilize the construction sector, and with it — related industries: material production, metallurgy, logistics, and services. The halt of construction projects could trigger a chain reaction across the economy, and the state could not allow that. Preferential rates made it possible to get through the pandemic and subsequent turbulence, while improving housing conditions for young families.

At the same time, the priority was obvious — the primary housing market. It is this market that launches a long production chain and supports employment in many industries. Therefore, it is not surprising that, after going through a difficult financial period, the state focused subsidies on new buildings, leaving the possibility of family mortgages for resale properties only in cities with minimal construction volumes. In the 62nd region, these are Kasimov, Korablino, Mikhailov, Novomichurinsk, Ryazhsk, Sasovo, Skopin, Spas-Klepiki, Spassk-Ryazansky, Shatsk.

As a result, major cities — Ryazan and Rybnoye — fell out of the list. There, apartments can be purchased with a family mortgage only in new buildings.

And here a question arises: how beneficial is it for a young family to invest in buying an apartment in a new building, since often the choice in favor of resale property lies in the presence of renovation and the readiness of the house.

There is a benefit, experts are sure. First of all, it is the opportunity to use a subsidized rate under the program, which is often offered by federal developers in their projects.

To date, the base rate under the family mortgage program is fixed at (total cost of credit — 20.819–21.525%) 6%, but in case of developer subsidy, this figure can become even lower.

One such offer in the Ryazan new-build market is the residential quarter «Novyye Gorizonty». The developer has provided conditions under which the family mortgage rate can be as low as (total cost of credit — 3.5–6%) 3.5%. Thus, a young family can not only acquire an apartment in which no one has lived before, but also significantly save on bank interest payments, and moreover, secure a comfortable monthly payment for themselves. For example, now an apartment can be purchased under the preferential program with a subsidized rate from the developer starting from 14,850 rubles per month (approximately $160 at current rates).

The second point why young families often prefer resale property is the presence of ready-made renovation in the apartment. But this condition has also been fully «covered» for its clients by the quarter «Novyye Gorizonty». If desired, ready-made renovation can be purchased additionally, thereby saving budget and time when moving. What is especially convenient, the ready-made renovation can be included in the mortgage.

And the last pleasant moment. The wait to move into the new building will not be long — the handover of the first building of the residential complex «Novyye Gorizonty» is planned for this year.

Learn details and book an apartment with a subsidized rate (total cost of credit — 3.5–6%) 3.5% on the developer«s website or by phone +7 (491) 224-70-00.

More interesting things about new buildings in Ryazan — in the Telegram channel.

Residential complex «Novyye Gorizonty». Developer LLC SZ «Novy Kvartal». Project documentation is posted on the website nash.dom.rf.

Financial services are provided by: PJSC Sberbank. General license of the Bank of Russia for banking operations No. 1481 dated August 11, 2015. Detailed lending terms are published on the website.