Russian authorities should adopt the experience of the European incentive model and start giving citizens interest-free loans for the purchase of new housing. Central Bank (CBRT) leadership should consider the possibility of resetting the key interest rate, opens Words of the representative of the State Duma Committee on Budget and Taxes Yevgeny Fedorov Radio station “Moscow speaks”.
As an example, the MP cited Denmark, where mortgages are issued, including negative interest rates. Therefore, local authorities are more actively encouraging citizens of the Scandinavian country to acquire new housing. He explained that the same practice can be applied in the Russian real estate market.
“We have to move forward not on the path of curbing the appetite of the citizens, but on the way of issuing mortgages at zero interest rates and at zero interest, just as has been done in Europe. I remind you that in Denmark mortgages are issued at a negative interest rate. That is, citizens are paid a little extra for getting loans to build their own housing, thereby fueling the construction industry, the economy of the country as a whole, ”Fedorov concluded.
On March 30, the agency RIA Novosti, based on statistics from Central Bank analysts reportedFollowing the results of February this year, the average mortgage rate in the Russian market again exceeded 8%, reaching 8.05%. Thus, this indicator rose to the level of March 2022 and at the beginning of 2023 the bar rose by 1.4 points.