The Ministry of Finance of Russia will study the development of the residential rental market and make this mechanism an alternative to mortgage for renting apartments with subsequent phased purchase. About Wrote RBC publication with reference to the draft strategy for the development of the Russian financial market until 2030.
The Ministry of Finance confirmed the relevant information to the publication. The Ministry assumes that such a mechanism will contribute to increasing the affordability of housing with the development of the rental market. Representatives of the Ministry and the Bank of Russia presented a draft strategy to the government the previous day.
In Russia, it is allowed to rent housing since 2011. However, according to Zoya Sovetkina, junior director responsible for ratings of credit institutions at Expert RA, such transactions mainly concern commercial real estate and are concluded by legal entities. As of October 1, 2022, the real estate segment accounts for 4% of the leasing portfolio of Russian companies.
On the eve of the Deputy Minister of Finance of Russia Alexei Moiseev knowledgeableIt is reported that the final decision on the future of the preferential mortgage program for new buildings, which should expire on December 31, 2022, has not yet been made. The issue is being discussed in government.
In the second half of November at the Ministry of Finance of Russia declarationthat they do not see the need to extend the preferential mortgage for new buildings, which is currently given at an annual rate of 7%.