The housing market in Russia may be in deficit for the next 10 years. This topic is called “Russia is Calling!” It was discussed on the forum. Sergei Staroverov, Deputy General Director of Economics and Finance of developer Setl Group, said: RBC.
“The development market is very regulated, so there is practically no risk to investors, including bond investors,” he said.
Staroverov pointed out that real estate prices will increase in the long term, so this sector will continue to be very attractive for investors.
“Housing will always be in demand, the market will be scarce in the next 10 years,” the expert added.
In addition, the expert opposed the complete abolition of preferential mortgages, because, in his opinion, such programs provide support to many market participants (banks, developers, real estate buyers).
At the same time, the development market may decline, as the company’s stress test shows. Setl Group explained this by a possible increase in interest rates and the cancellation of concessional mortgages until the middle of next year. Staroverov pointed out that approximately 90% of sales are due to concessional loans.
Before that, CIAN.Analytics experts registeredThe decision of the Russian Ministry of Finance to tighten the conditions for issuing concessional mortgages will deprive the country’s housing market of 25 to 30% of potential buyers.
It was previously reported that there were young teachers in the Vologda region. They will give Funds for mortgage down payment.