The Central Bank noted an imbalance in the Russian real estate market in terms of the cost of housing in the primary and secondary markets. Deputy Chairman of the State Duma Committee on Construction, Housing and Communal Services Svetlana Razvorotneva spoke about this issue at the International Housing Congress. “Russian newspaper”.
The MP said the Central Bank did not see the risks of inflating the mortgage bubble, but noted the imbalance in primary and secondary housing costs.
According to CIAN, apartments in new buildings are on average 18% more expensive than existing ones. At the same time, new homes have been cheaper than second homes for almost 20 years.
The second imbalance, according to the financial regulator, relates to the quality of borrowers. Loans are increasingly being given to people who have difficulty providing services due to their financial situation.
The third imbalance arises from developers’ marketing projects, including near-zero mortgages. In such loans, interest is included in the housing cost, but it is not possible to sell the apartment later for the same money. The Central Bank is constantly struggling with this. Razvorotneva emphasized that the entire situation in the housing market is now determined by the conflict between the developer bloc and the financial regulator.
Previously in Russia guess extension of privileged mortgage.