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Mortgage schemes reworked for young parents
12.07.2005 00:00

Surprisingly enough for young parents, the interest rate for the newly constructed apartments has dropped from 10% to 5%, giving them fairer chances for a change in terms of housing.
      
      
       From now on, those who are under thirty and have 2 or 3 children need just to share 20 or 10% respectively of the price to queue up for a brand new flat. The interest rate was cur down to a record 5%. Of course, not all families could afford even these conditions.
      
      
       The current year should bring another 5 million sq meters, where 2m are allocated for modern high-rises while the rest shall accommodate those who are not so well off. As of today, the line of houses in Moscow totals 39,550 houses or 3,622,577 flats, which is 198,817,000 sq m.
      


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