Due to the increase in the key rate, part of the shopping center will become the property of banks, according to expert

In his opinion, not all owners of these objects will be able to pay off their debts, so part of the shopping center will become the property of the banks.

“Some of the accredited shopping centers will be forced to repay the loan at 26-27%, which may lead to new transfers of shopping centers to banks,” said Woitsekhovsky.

Voitsekhovsky added that what is happening will most strongly affect shopping centers whose loan contracts are concluded at a floating interest rate, but did not estimate the share of such shopping centers in the total number.

According to the expert, a very difficult situation is being created for the shopping center market, especially taking into account that as of January 1, the income tax will be raised from 20 to 25% and the upper limits for setting the coefficients for calculating the real estate tax. The last condition is relevant for objects and land plots worth more than 300 million rubles.

On October 25, the Bank of Russia announced an increase in the key rate to 21% and allowed it to rise further in December due to higher-than-expected inflation, demand outstripping supply and the budget deficit. Experts predicted an increase in the rate to 23% at the next meeting of the board of directors of the Central Bank.

Businesses reacted negatively to the decision of the Central Bank of the Russian Federation to raise rates. Companies expect a decrease in effective demand and refuse to develop with credit funds, RB.RU reported.