Prices for
real estate in Russia are stabilizing. This was stated by Senior Vice President of Sberbank Dzhangir Dzhangirov at a virtual session on the development of
mortgage business.
two and a half years
housing in Russia as a whole has risen in price by more than 50 percent. Such growth cannot continue indefinitely.
"We now include near-zero price growth in our models for lending to new projects. Of course, we also understand that such growth cannot continue indefinitely. And taking into account inflation, we assume that for lending purposes there will even be some reduction in real terms. Rising demand for loans and low supply led to an increase in real estate prices in the primary and then in the secondary market.
In the spring of 2020, as part of anti-crisis measures, the government launched a preferential program .gjacip.ru/ipoteka/">mortgages at 6.5 percent. At the same time, the Bank of Russia reduced the key rate, which in July 2020 reached a historic low of 4.25 percent per annum. At the same time, the average rate on
mortgage dropped in April 2021 to 7.3 percent. Rising demand for loans and low supply led to an increase in real estate prices in the primary and then in the secondary market.
In the spring of 2020, as part of anti-crisis measures, the government launched a preferential program .gjacip.ru/ipoteka/">mortgages at 6.5 percent. At the same time, the Bank of Russia reduced the key rate, which in July 2020 reached a historic low of 4.25 percent per annum. At the same time, the average rate on
mortgage dropped in April 2021 to 7.3 percent.
