Russians have changed their investment preferences under current economic conditions. According to the Izvestia newspaper, citing online voting on the IRN.RU portal, the most popular investment options were deposits, foreign currency and the purchase of bonds.
According to the survey results, 26 percent of the participants prefer to deposit money, 20.7 percent prefer to buy foreign currency, and 17.2 percent prefer to buy bonds. A year ago, only 16.8% would invest in real estate, which was at the top of the list of preferences.
According to expert Oleg Repchenko, deposits and bonds now look more attractive than real estate due to the high interest rate of the Central Bank. The higher it is, the higher the profitability of these instruments and the more expensive the mortgage.
“The profitability of both deposits and bonds depends on the level of the key interest: the higher it is, the higher the profitability. Therefore, at the time when the interest rate dropped to 8 percent in July 2022, real estate investments looked more attractive than deposits, but now with the key interest rate of 13 percent, the opposite is true,” said Repchenko.
34% of those choosing real estate prefer an apartment in Moscow. This is followed by resorts (13.8%), foreign (11.7%) and commercial (10.3%) real estate.
Last week the Russian government suggested Extend tax breaks to citizens’ investments.
Russians before saidWhat will apartment prices be by the end of the year?