"These laws offer our public a reliable way to purchase reasonable-price housing. It isn't a long-term prospect-it concerns the nearest future," he said in an interview with the Vremya (Time) television news program.
In his state-of-the-nation address to the federal parliament, President Vladimir Putin highlighted an affordable housing program among top national priorities. It was impossible, however, to launch the ambitious program without an appropriate legal basis. This basis has now appeared after a sizeable package of laws and bylaws was signed today. It is a very big and sophisticated package. Much depends on how long it will take the people-in-the-street to take stock of their new opportunities. Ample explanations will be necessary to get the laws going, Mr. Medvedev went on.
Implementation of the package equally depends on authorities and the public, he pointed out.
Economic institutions-mainly banks-are to start implementing the new laws. Housing loan terms must be beneficial for bankers and clients alike. If all economic mechanisms envisaged by the package are properly launched, the housing market will spectacularly improve. Crediting will become more lucrative for bankers, and it will be much easier for the public to make loans, reassured Dmitry Medvedev.
