The government of the Autonomous Republic of Crimea plans to launch a long-term state program for mortgage lending for housing construction in Crimea late in 2012 or early in 2013, according to the Crimean Council of Ministers' main information policy department, which reported an announcement by Crimean Premier Anatoliy Mohyliov.
"We’re negotiating with the Cabinet of Ministers of Ukraine the issue of Crimea’s participation in the state Affordable Housing program. I think the program will be implemented [in Crimea] starting from the end of this year or early next year," Mohyliov is quoted as saying.
He also said that the issue of building housing in Crimea at affordable prices, while housing prices in Crimea "are about 30% higher than average across the country" remains a problem for the peninsula.
As reported, at a full cabinet meeting on March 7, 2012 devoted to new social initiatives, Ukrainian President Viktor Yanukovych issued a number of instructions to the government, in particular, to take steps to facilitate the Affordable Housing program. The president announced that since May 2012 Ukrainians would be able to borrow funds in hryvnias for a period of 10-15 years at interest of 2-3% per annum under the program to buy housing.
