Irina Radchenko, President of the International Academy of Mortgage and Real Estate, said the sharp depreciation of the ruble affected the record level of mortgage lending in Russia in May. It has been reported URA.RU.
According to him, in the five months of 2023, the ruble fell by 25%, which is the main reason for the record levels of housing loans issued. According to him, such situations are not about improving the living conditions of citizens, because only those with savings do it.
“If previous citizens were exchanged or held in foreign currency, then such fluctuations did not particularly concern them. Now, due to the de facto ban on foreign currency deposits. “Few people are willing to pay the bank 5 percent for foreign currency storage,” he said.
Earlier in the press service of the Central Bank of Russia declarationthat the size of the minimum down payment for a mortgage in the country has doubled.
From 1 June 2023, the minimum mortgage payment is 20%, not 10%. After six months, starting January 1, 2024, the entrance fee will increase to 30%.