Natalya Kazantseva, Associate Professor of the Department of Economic Policy and Economic Measurements at the State Business University, said in an interview with the agency: “Hit the primer”It is predicted that the share of concessional mortgages in the primary market may fall to 25%.
According to him, concessional mortgages partially solved the problems in large cities where there was active construction, a developed banking system, and buyers stood out with their ability to pay. The rate of such mortgages was 90% across all mortgage programs. In this context, the government is already considering how this can be reduced.
The expert stated that mortgage is, first of all, a way to purchase commercial housing. The evolution of mortgage lending is determined by market laws, so by definition it cannot be widespread, he said.
He added that the state “does not abandon paternalistic functions, but only adjusts its social obligations to the circumstances and modern features of economic development.”
Before that, Izvestia newspaper quoted sources as saying that the Ministry of Finance of Russia plans to significantly reduce Share of concessional mortgages in the primary real estate market.
Putin before announced Mortgage with a 2% preferential rate for participants in the private operation.