The affordability of Russian housing in terms of living space size has not increased in Russia in recent years, and price increases have been offset by low mortgage rates. In this respect reported Elizaveta Danilova, Director of the Financial Stability Department of the Central Bank of the Russian Federation.
“If you look at the information on how housing affordability has changed in recent years <…> “Accessibility, that is, the number of meters that people can afford, has not increased in recent years,” he explained.
He added that the Central Bank is concerned about the price imbalance that has increased with the launch of concessional mortgage programs in the secondary and primary housing markets in the country.
Before that, Deputy Minister of Construction, Housing and Communal Services Nikita Stasishin proposed raising the issue of price per square meter of housing for Russians. According to him, evaluating the factors that determine the square meter price and increasing their usability are important in terms of the cost and profitability of the projects. The Ministry of Construction will discuss this issue with the Central Bank, the Ministry of Finance, the Ministry of Industry and Trade, banks, the Federal Antimonopoly Service and regional authorities.
According to Domklik statistics, the average price per square meter in new buildings in Russia last month was 120,586 rubles, and in the secondary market it was 100,958 rubles.
Previously “socialbites.ca” saidWhat about the mortgage market?