Starting from March 2024, additional allowances will be introduced in Russia for risk ratios for mortgages with a debt burden ratio (DLI) above 50% and above 80%. For developers, such regulations could be a serious blow, he writes kp.ru with reference to experts.
According to experts, the changes will lead to a 4-fold decrease in sales compared to the current level.
Economist Vasily Koltashov believes that Russia’s “macroprudential regulatory frenzy”, that is, a set of measures aimed at minimizing possible risks in the financial sector, “has no analogues in the world.” According to the expert, such regulation should be introduced in the “economic warm-up phase”; Not while the country is still “trying to recover from Covid and sanctions onslaught.”
Andrei Koryakovtsev, also an expert at the Institute of New Society, pointed out that in real life mortgages show high quality indicators even with high PDI.
“You can talk all you want about high risks, but banks see that there are no defaults and therefore they want to lend to such borrowers,” he added.
In response, State Duma deputy Artem Kiryanov emphasized that it is very important not to deny access to purchasing apartments to those who need it most, in order to minimize unproven risks.
“While the wealthiest borrowers have the minimum level of the maximum debt load allowed for a mortgage, poorer borrowers, especially in the regions, have a higher MDL. This is especially true for government-backed mortgages. “If the rich get all the support, it would be a very bad budget policy,” he concluded.
Before that experts statedthat the introduction of commissions for developers with concessional mortgages should be seen as a search for opportunities not to shift risks to citizens.
Previously happened It is known that Russian banks are less likely to approve preferential mortgage loans for “primary”