Moscow became the leader in the ranking of cities in terms of unaffordability of mortgage housing. The average salary in the capital is much lower than the average mortgage payment for a completed home. St. Petersburg took second place in the ranking of housing inaccessibility, and Kazan took third place.
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Moscow has become a leader among cities in terms of inaccessibility of purchasing finished housing with a mortgage. RBC writes about this in reference to the Cyan study.
In the capital, the average mortgage payment for a finished home is 146 thousand rubles per month, while the average salary is 118 thousand rubles per month. According to analysts, an average family with two working people will have to spend 62% of their total income on mortgage payments.
The second place in the ranking of unavailability of mortgage housing was occupied by the second city of Russia – St. Petersburg. In the Northern capital, the average mortgage payment is 98.7 thousand rubles per month with an average salary of 82.8 thousand rubles per month.
Kazan is in third place: the payment there is 83 thousand rubles per month, and the average salary is 67.4 thousand rubles per month.
The analysts did the math using a mortgage at a rate of 17%, for 25 years, and a down payment of 20%. Data on salaries were obtained from the database of the State Statistics Service.
Author:
Kirill Bilyk
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
