Yakutia among the leaders in the Far Eastern Hectare
More than 110,000 people have received free land under the Far Eastern Hectare programme, which has been running for more than six years5 December 2022
Yakutia, as well as the Primorsky and Khabarovsk Territories, remain in the lead by the number of plots provided, says the YASIA website, citing Deputy General Director for Social Development of the Far East and Arctic Development Corporation Elvira Nurgaliyeva
Most Far Eastern hectare recipients (42%) take the land for private housing development. The second most popular reason is agriculture (34%), followed by entrepreneurship (10%) and the development of tourism projects (7%).
According to the first deputy head of FEDC, the programme's popularity in the Far East is confirmed by more than 11,000 contracts transferring the land plots to the recipients. The high demand for the programme is also evidenced by the number of home loans issued to its participants.
DOM.RF JSC estimates that as of the end of November, programme participants have received 330 mortgage loans worth a total of RUB 1.39 bn. The participants are eligible for preferential Far East mortgage loans regardless of age or profession.