Russians were warned of rising house prices due to preferential mortgages

Rush demand for preferential mortgages at 6.5 percent leads to an increase in housing prices in certain Russian regions. As a result, the effect of the program is received not so much by citizens as by developers. The head of the Central Bank Elvira Nabiullina warned about this, Interfax reports. She stressed that preferential mortgages […]

Сообщение Russians were warned of rising house prices due to preferential mortgages появились сначала на supercar.ru.

Rush demand for preferential mortgages at 6.5 percent leads to an increase in housing prices in certain Russian regions. As a result, the effect of the program is received not so much by citizens as by developers. The head of the Central Bank Elvira Nabiullina warned about this, Interfax reports.

She stressed that preferential mortgages played a very important role and helped prevent the market from failing during the crisis period. “It is very important not to lose a real goal in the race for growth figures. What is our real goal? Increasing the affordability of housing for citizens, ”Nabiullina noted.

According to the head of the regulator, Russia still has the potential for the development of this market, but it is necessary to avoid a bubble. “The main thing, of course, is that the growth of mortgages should be supported by the growth of the population’s income. Therefore, we need to avoid real risks, primarily for citizens, and then for borrowers and banks, ”said the head of the Central Bank.

At the moment, the preferential mortgage program has been extended until July 1, 2021. It accounts for more than 90 percent of housing loans that citizens take to buy apartments in new buildings.

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Сообщение Russians were warned of rising house prices due to preferential mortgages появились сначала на supercar.ru.