MOSCOW, February 12th, 2004 (RIA Novosti correspondent) - Russian President Vladimir Putin is coming out for adopting a complex package of laws to launch the market of affordable housing and demands that the government submit these draft laws for the spring session of parliament.
According to Putin, international experience suggests three ways of solving the housing problem, and mortgages are one of the most promising ways. The second way is long-term renting. "We have no right to forget about those who use social housing. Its maintenance is a must for the authorities," said Putin.
He laid particular emphasis on mortgages. "Even in the most developed nations, straight-away housing purchase is hardly realistic. Housing is usually mortgaged for 10-12 years. Now we have such an opportunity too, but mortgages and their terms are still unaffordable for the majority of citizens. We need a complex package of laws to launch an affordable housing market," said Putin.
