A family mortgage program offering a reduced interest rate on secondhand apartments is available in specific small towns across Russia, excluding the Moscow and Leningrad regions. This initiative aims to support families with young children in areas with limited new construction.

The program targets families with children under six years old and focuses on properties in cities where no more than two new apartment buildings are under construction. The properties must not be in disrepair and should have been built within the last 20 years.

In the Novosibirsk region, eleven cities including Iskitim, Barabinsk, and Toguchin are participating in the program. Iskitim has the most available apartments that meet the criteria, ranging from studios to larger two- and three-room apartments.

However, some sellers have increased prices in response to the program, potentially diminishing its benefits. Real estate experts note that while demand initially surged, it has since stabilized.

Smaller cities in the Novosibirsk region, like Kuibyshev and Cherepanovo, have limited housing options that qualify for the program, leading to fewer transactions. In some cases, apartment prices in these smaller cities are comparable to those in Novosibirsk due to the scarcity of eligible properties.

Despite the program, the overall real estate market is facing challenges, with a high number of unsold apartments in Novosibirsk and a decline in buyers following the cancellation of mass preferential mortgage programs. Experts suggest the program is most effective in larger cities with a greater selection of suitable housing.