Revamped and Refreshed Take on Tomsk's "Дом за рубль" Program
Mahajan proposes immediately selling "homes for a ruble" with maximum concessions.
Let's talk Tomsk style, my friend! The mayor of Tomsk has proposed a stirring update to the "Дом за рубль" program, with a particular focus on easing the burden on investors by establishing a maximum, ludicrously low rent right off the bat. According to the city's big cheese, Dmitriy Mahenia, in his recent annual report on the city administration's performance in 2024, they might just tempt more investors with an additional 150 properties!
As of the latest scoop, 64 buildings are part of the "Дом за рубль" initiative. Renovation on 14 homes has been completed, and their lucky tenants are now enjoying the perk of zero rent!
Mahenia candidly shared his thoughts, stating, "We gotta lighten the load on investors hankering to get in on this. Buying a property is a hefty investment, and with high credit rates, I reckon it'd make sense to set the rate at a mere ruble from the get-go. However, if the agreed-upon term — let's say five or six years — doesn't restore the property, there should be consequences. In this case, I propose adding a penalty by charging the full rental rate for the entire duration."
He firmly believes this tweak could further entice investors to join the "Дом за рубль" program.
Bonus Tidbit: Book on Tomsk's Dom za Rubl Project Coming Soon
Since 2016, Tomsk has been hosting the "Дом за рубль" project, inviting investors to revamp old homes for personal use, in exchange for a substantial rental break. After the project planning phase, the rental rate reduces by 90%! Once renovation work is complete, the rate plummets to a single ruble per house. The rental agreement stretch lasts 49 years.
Generous rental benefits also apply to the leased land parcel that hosts the refurbished property. From the moment the contract is signed, the investor can enjoy a 0.1% reduced rental rate based on market value for two years. After project completion, the reduction extends for another four years. Once renovation work is done, the discount applies throughout the 49-year rental period.
There you have it – a smoother read, with a dash of insider facts. Stay curious and keep exploring the Tomsk housing scene!
- The mayor of Tomsk proposed a strong focus on financial incentives for investors in the updated "Дом за рубль" program, suggesting a section 49 penalty for properties not restored within the agreed terms.
- In his annual report, Dmitriy Mahenia, the city's mayor, pointed out that the revamped program could attract more investors by offering a maximum, minimal rent from the outset, possibly swaying 150 more properties to be included.
- For investors participating in the "Дом за рубль" program, generous rental benefits extend not only to the houses but also to the land parcels, with a significant reduction in rent for the first six years and a single ruble per house rent for the subsequent 49 years.
