If the Bank of Russia raises the key rate above the current rate, demand for secondary real estate may fall sharply. In an interview with RIAMO on this subject stated Ekaterina Nikitina, head of real estate agency “PRO OBMEN”.
“If the interest rate is increased further, mortgage interest rates may become a deterrent for Russians. “Given that more than 70 percent of transactions in the secondary market involve mortgage funds, this will have very negative consequences for the real estate market,” he said.
At the same time, according to him, the increase in the Central Bank interest rate will have an insignificant impact on the segment of new buildings, since the vast majority of transactions in this market are carried out using concessional mortgage programs.
27 October Central Bank raised Key rate up to 15% per annum. Analysts in the name This decision, which was emphasized that it would not affect the ruble exchange rate, was expected.
Against the background of interest rate hikes, Russian banks started to reject Citizens using mortgage loans. Experts state that this situation will not only reduce the availability of mortgages, but also stimulate alternative options for purchasing a home without the involvement of credit institutions.
previously economist explained The danger of further increases in interest rates.