Low-cost housing loans

Before the 2011 economic crisis, much of the population could receive cheap housing loans from state-owned banks based on need criterion. The waiting time, however, ranged from 10 years in Minsk to a few months in small towns. In the past few years, up to 80% of housing was built mainly thanks to state credits. Around 20-25% of the cost comes from people’s own funds.

While this form of support has improved the availability of housing, it has not helped increase people’s savings or encourage private initiative (largely because you need to be employed in the public sphere to receive a soft loan).