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  • OWNERS OF “FAR EAST HECTARE” TO BE GRANTED PREFERENTIAL MORTGAGE LOANS

    29 July 2016

    Deputy Prime Minister and Russian Presidential Envoy to the Far East Federal District Yury Trutnev held a meeting in Vladivostok on implementing the “Far East Hectare” law, informs Primorskaya Gazeta.

    People who will be developing one hectare of land in Russia’s Far East will be granted mortgages at minimum interest rates.

    “We’ve already made an arrangement with the Agency for Mortgage Lending that the Far East landowners will be provided maximum preferences. A special aid that we’ll develop specifically for the “Far East Hectare” programme is related to common residential building requests. When people want to build something together, we should try to find opportunities to help them with the infrastructure”, stated Yury Trutnev.

    The Envoy underlined that the main task now was to help people formalise their requests for one hectare of land without unwarranted red tape.

    During the two months since the law was adopted, 2,292 people have applied for one hectare, most of them eager to develop land in the Primorye Region.