Only 18% of transactions on the Russian primary market are carried out without the involvement of mortgage funds. The most popular type of mortgage is the family mortgage, which accounts for about 70% of apartment purchases.
Author:
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This was reported by Izvestia, citing data from the Vinzer construction company. According to the general director of the plant, Denis Zhalnin, “in recent years, the dependence of the primary real estate market on mortgages has increased significantly,” so the end of subsidies for mortgage rates could reduce demand “to critical levels.”
82% of apartments in new buildings are purchased with mortgage funds. In addition, around 70% of purchases are made with a family mortgage.
According to the expert, the secondary and suburban real estate markets are much less dependent on mortgage loans. Almost half (45%) of finished apartments are purchased without borrowing. In the suburban real estate segment, the proportion of mortgage dependence is even lower – 38%.
This week it became known that banks have exhausted 96% of the limit for issuing mortgages for IT specialists. The remaining quota is half of the monthly allocation of the program in May or June.
Photo by: Freepik
Author:
Akhmed Sadulayev
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.
