Currently, it is more profitable for Russians to rent an apartment than to take out a long-term mortgage or consumer loan to buy real estate. Words of Alexey Lashko, head of Assistance Group of Companies opens “Lenta.ru”.
“For March 2023, it is more correct to rent an apartment in the developing situation. And invest the difference between the rent you will pay and the current payment if you take a mortgage, in an instrument with a guaranteed return. Or choose a reliable credit cooperative and deposit money there with interest. So in ten years it will be possible to buy an apartment with your own money, ”said Lashko.
According to him, the “best option from worst” will be a mortgage. Consumer credit for the purchase of real estate seems even less profitable for ordinary citizens. Also, the penalties for consumer loans appear to be “heavier” than on traditional mortgages.
“The rate for a conventional mortgage is lower than for a general purpose loan. <….> If a person cannot cope with the loan load, the overpayment on the mortgage will also be much lower, ”Lashko concluded.
On March 10, the TASS agency referred to the Central Bank’s statistical data. reportedAccording to the results of February this year, the volume of mortgage issuances in the Russian domestic market did not reach the peak levels at the end of 2022. At the same time, requirements for potential borrowers remained moderate in the last month of the winter period.