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The key goal is to form the vast affordable housing market, President Putin stated at the Meeting of the State Council which focused on housing problems.

Russia has, of late, laid a legal basis to update its housing sphere. It is evident, however, that an ambitious housing reform is marking time, pointed out the President.

Many steps are necessary to get the reform going. First, the acting federal target program Housing demands a revision. Second, there are related bylaws to pass. Next, housing construction is to gain momentum with every passing year. Last but not least, the construction market demands demonopolizing to open it to efficient builders.

To promote long-term crediting – in particular, by cutting interest rates – remains one of the ways to cope with the housing problem, said the President.