The volume of housing construction for large families in 2018 is planned to be doubled

In 2018, Belarus plans to double the volume of housing construction for large families compared to 2017. This was reported to a BELTA correspondent by Yevgenia Filimonova, press secretary of the Ministry of Architecture and Construction.

"In 2018, it is planned to construct 4 million sq.m. of housing, including 900 thousand sq.m. with state support. In order to provide housing for 7,029 large families, it is planned to commission 562.6 thousand sq.m. In 2017, 281.2 thousand sq.m. were allocated for 4,359 large families. This area remains a priority in housing construction," said Yevgenia Filimonova.

In 2018, when constructing housing with state support, it is planned to allocate Br562 million under Decree No. 240 on targeted subsidies in housing construction, with Br119.87 million to be provided by preferential credit resources.

Targeted state subsidies are an important mechanism of state support for housing construction, including for large families. The subsidy amount for paying part of the interest for families with three minor children is equal to the refinancing rate plus 2%, for families with four or more minor children – the refinancing rate plus 3%, for families with three or more children under 23 years of age, orphans and children left without parental care – the refinancing rate plus 2%. For families with four or more children, the principal debt will be repaid by 100%, for families with three cohabiting children under 23 years of age – by 95%, for orphans – by 35%, for young families upon the birth of one and two children – by 10% and 20% respectively.

In total, Br209 million were allocated for targeted subsidies in housing construction in 2017. As of December 22, 2017, under Decree No. 240, approximately 3,000 loan agreements were concluded for a total amount of Br141.663 million. Currently, Belarusbank, Belinvestbank, BPS-Sberbank, and Belagroprombank participate in this financing mechanism. Regional executive committees and the Minsk City Executive Committee have made about 5,000 decisions on granting targeted subsidies.