In Russia, they announced a possible collapse of the housing market in Russia due to changes in the rules for granting concessional mortgage loans. This is St. This was stated by Alexey Bondarev, St. Petersburg real estate market expert and founder of the Pride Group real estate agency, in a meeting with the agency. “lenta.ru”.
According to Bondarev, demand for new buildings has already fallen by about 30% compared to January 2023. This is due to the commission introduced for developers who are partners of banks in concessional mortgages. Large developers are not ready to pay this percentage and include it in apartment prices, and banks have not yet covered half of them.
“If this does not happen, developers will take the price increase into account and continue to cooperate with banks on new terms. But unfortunately the price will suffer as a result,” explained the expert.
If this situation continues, the new construction market will collapse, Bondarev predicts. He also expects a drop in prices and a change in demand for secondary housing. The real estate agent called for the introduction of targeted preferential mortgages for those in need.
Before that at Sberbank clarified The effect of changes in the terms of concessional mortgages.
previously economist appreciated Danger of “credit bubble” in Russia.