His administration’s housing plans foresee the resettlement of 345,000 people into new apartments by 2030.

During a State Council meeting on Tuesday, President Vladimir Putin invited those “young people” who share “the values we uphold” to come live in Russia.

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“We truly need promising young people who will start families and either be educated here or come already educated. We need a group of people who are close to our way of life and to the values we uphold,” he said.

Last year, Putin had already signed a decree to grant residency to foreigners who share “traditional Russian values.”

The Russian president also presented today the housing reconstruction plans, which foresee the resettlement of 345,000 people into new apartments by the year 2030. “At least 6.2 million square meters of uninhabitable buildings will be eliminated,” he added.

During the meeting, the current housing situation in Russia was also discussed—a sector showing a downturn that may be linked to the decline in credit applications due to the continued policy of high interest rates led by the Russian Central Bank.

“Given the current economic and macroeconomic situation, there are risks of a slowdown. In total, the completion of more than 2,000 housing projects across the country has been postponed for six months,” Putin said, referring to the stagnation in the sector.

At the same time, the beginning of 2025 saw a wave of bankruptcies among Russian construction companies that had been operating with minimal profitability due to the lack of residential apartment sales and a shortage of domestic investment.

teleSUR/ JF

Source: EFE

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