Nearly a third of the participants in the Affordable Housing for Young Families program bought apartments into ownership

In Irkutsk, the results of the Young Families Affordable Housing program were summed up, which helps young families buy homes through mortgage compensation and down payment subsidies. From 2005 to 2012, 906 families improved their living conditions, and after changes in the program, the number of participants increased noticeably. In 2012, 184 families received support, and the program will continue until 2019 under the Housing target program.

“Young Families – Affordable Housing” is the general name for several mechanisms for helping young families acquire housing, such as subsidizing mortgage interest rates, subsidizing the down payment on a mortgage loan, and others. These mechanisms are funded from different budgets: some from the city budget, others from the city and regional budgets, and still others from all three budgets.
During the program’s existence—from 2005 to 2012—the city budget invested 250 million rubles in the program, 150 million came as co-financing from the regional budget, and another 102 million came from the federal budget. Housing conditions were improved for 906 young families. Of these, 78 had children or adopted children during this time, after which they received additional social payments under the program.
In 2011 and 2012, the number of families who bought housing with the help of the program increased significantly compared with previous years—this is due to changes made to the program mechanisms: the age limit for participants was raised to 35, the subsidy to cover the down payment for families with children increased, benefits for families with disabled children appeared, and other preferences were introduced.
In 2012, 184 families used the “Young Families – Affordable Housing” program mechanism. Another 560 families expressed their desire to participate in the program. In 2012, the program was funded by all three budgets: 46.9 million rubles were allocated from the budget of the city of Irkutsk, 97.1 million from the regional budget, and 45.5 million from the federal budget. The housing program for young families in Irkutsk will continue until 2019 as part of the long-term targeted program “Housing.”
Based on materials from the press service of the administration of the city of Irkutsk