Russian Federation

The basis of these programs – the active role of the executive authorities of the Russian Federation and local self-government in matters involving funds of citizens in the sphere of construction and use of resources regional and local budgets. Among the administrations of some cities has spread the idea of creating special extra-budgetary funds to support housing (Sarov, Novgorod region). Funds, using budgetary funds and a portion of tax revenues (in the range of local taxes, and in respect of closed administrative and territorial units – and federal taxes) finance for housing. This house is for sale those citizens who agree to sell the existing housing fund, the remaining amount to pay for part of its own funds and partly – to obtain credit. Cost of old housing, usually about 50 – 60% cost of a new, 20 – 25% – proper vennye means a citizen of the remaining 15 – 30% of the cost of purchased housing is provided by installments. In addition, each Fund's investment in housing ruble loan attracts exceeding several times the population means. The results of these programs are determined by the budgetary possibilities of the region the volumes of housing construction, as well as the effective demand for housing in the secondary market housing.

In some other cities and regions (Orenburg region, Udmurt Republic, and others) have developed lending schemes for the population of interest rates, much lower than the market, created by extra-budgetary funds. Concessional interest rates on loans makes it difficult to attract to the system of mortgage lending extra-budgetary funds of investors in this regard, these schemes are limited in scope credit and place a heavy burden on regional budgets, which in most cases to date are scarce. In some regions of Russia (Belgorod region, the Republic of Bashkortostan, etc.), mainly in rural credit schemes have proliferated that do not use credit and financial mechanisms. In the Republic of Bashkortostan, borrowers receive a loan (a loan) in the form of building materials, and Belgorod Region is considered the impact of part-time farm of the borrower. In this case, the solvency of the borrower in the ordinary sense of the word is not evaluated, because repayment of the loan (the Loan) shall not cash and in kind – in the form of agricultural production, which was subsequently sold at prices set by the organizers of such lending. Replacement of monetary instruments can natural lead to incommensurable costs and benefits. In addition, it is difficult to guarantee the return of credits in the absence of real monetary value of positive charges on the loan and its relevance to the size of credit.


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