OREANDA-NEWS Ten thousand Arctic mortgage loans at two percent have been issued to residents of the Arctic territories of Russia since November 2023. This is reported by RIA Novosti with reference to the statement of the head of the Ministry of Regional Development Alexei Chekunkov.

According to him, the effect of the program is both in the Murmansk and Arkhangelsk regions. The system of issuing loans at two percent in the Arctic regions turned out to be more effective than the Far Eastern mortgage, he noted.

Earlier, Chekunkov said that the Far Eastern mortgage program provided increased demand for housing, and with it an increase in the pace of construction development. From January to September 2024, 3.5 million "squares" were introduced in the Far East, which is 14 percent higher than the result of the same period in 2023. The growth rate of housing prices due to the program in the region is lower than the average in Russia — 15 percent versus 33 percent in the second quarter of this year relative to the same period in 2023.