Deputy of the State Duma of the Russian Federation Nikolai Arefiev said that the increase in real estate prices in Russia is connected with the fact that the dollar is much more expensive, so companies began to pay much more for construction materials (cement, brick, steel, etc.). . This was reported by “lenta.ru”.
According to him, the Bank of Russia and the government conclude that housing has become more expensive due to concessional mortgages, which many Russians benefit from. This situation immediately affected the increase in prices in the market.
The parliamentarian believes that the real issue in this case is the value of the dollar. He explained this by the fact that Russian companies purchase building materials, and most such trade relations are carried out at the dollar rate.
Before that, Central Bank Governor Elvira Nabiullina statedHe said that the Central Bank of the Russian Federation is concerned that mortgage growth in the country is accompanied by an increase in housing prices and a deterioration in the quality of loans. Housing loans are given to citizens with high debt burden.
Formerly Central Bank of the Russian Federation raised key rate up to 15%.