Russians are buying second homes en masse in October 13:00

In the first days of October, Russians’ demand for second flats increased by 15 percent. These statistics were given to the Izvestia newspaper provided Director of the federal real estate company “Etazhi” Ildar Khusainov. Compared to June, the figure increased by 46.8%.

The expert explained that many borrowers managed to get the mortgage approved at the rates in force at that time and are now trying to find an apartment in order to conclude a loan agreement on the previously approved conditions. After the Central Bank of the Russian Federation increased the interest rate three times, by 100, 350 and 100 basis points, respectively, on July 21, August 15 and September 15, banks began to increase mortgage rates, which forced Russians to accelerate their home loans. choice. Khusainov noted that now citizens have begun to buy even objects that have been exhibited for a long time because they are not attractive.

Tatyana Boeva, head of the mortgage lending department of Granel Group of Companies, estimates that currently the average level of mortgage rates in the secondary market (excluding preferential state programs) has already reached 14-16% per annum. Khusainov also said that rental rates increased by 3-4% in September. Elena Mishchenko, head of the city real estate department of NDV Supermarket Real Estate, added that some customers made panic buying in anticipation of an even larger increase in mortgage rates. Experts stated that there is also activity in the primary real estate market.

Yulia Dymova, director of the Est-a-Tet secondary real estate sales office, said that currently the average cost per square meter in the secondary market in Moscow is 494.3 thousand rubles. This is 9% more than at the beginning of the third quarter and 8.6% more than the same period last year. Prices increased due to lack of supply in the market.

However, according to experts interviewed by the newspaper, the excitement will soon fade. Russian demand will decrease due to high mortgage rates. Experts concluded that this would stabilize property prices.

The number of mortgage applications in the secondary market in September decreased by 35% compared to August due to the impact of rising interest rates. said CEO of TYMY company “socialbites.ca” Alexey Maistrenko. He added that those planning to buy apartments in the summer are refocusing on preferential programs because interest rates remain the same and they begin to look more profitable in the face of high mortgage rates in the secondary market.

Previously reportedIt is now more difficult to get a mortgage in Russia.