There is still a situation in the Russian real estate market where renting an apartment is more profitable than buying it with a mortgage. This is about 360.ru It has been said mortgage broker, real estate expert Dmitry Rakuta.
“The secondary market will be stagnant. Now it is more profitable to rent an apartment than to buy your own property. In fact, if you do not make an early payment, you can buy 3-4 apartments for this amount. The situation will be the same all year round: high interest rates and stagnation in the secondary market,” the expert explained.
According to him, at the next meeting, the Central Bank of Russia may once again raise the key interest rate, which will make mortgages unaffordable for many borrowers. Rakuta noted that the rate cut will only start in 2025. Therefore, there is no point in rushing to get a mortgage now, the mortgage broker concluded.
Personal finance expert Ekaterina Goncharova previously It has been said The first step to owning your own home, “socialbites.ca”, is a specifically set financial goal. According to it, you need to calculate how much the apartment will cost, how much the down payment will be and what the mortgage payment will be.
Russians before It has been saidIs it worth paying off the mortgage early?
What are you thinking?
Source: Gazeta
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.