Go to ...

The Newspapers

Gathering and spreading news from various Russian Newspapers

The Newspapers on Google+The Newspapers on LinkedInRSS Feed

Wednesday, November 22, 2017

Experts explained the sharp reduction in price of mortgage loans in Russia


The sharp depreciation of mortgage lending in Russia to 5.9% -7% per annum, the recent, is due to the General downturn in the economy and, in particular, in the field of real estate. In connection with decrease in purchasing power of Russians, the real estate market decided in the struggle for the buyer to increase the availability of mortgages, said the expert of the Russian Academy of national economy and public administration (Ranepa), doctor of economic Sciences Elena Ivankina.

“The fact that he [the property market] has a very high profitability and is quite able to survive without major losses, even the double price reduction. So he is able to share part of profits with customers and banks”, – explained in an interview with NSN Ivankina.

She believes that the trend of low interest rates in mortgage lending will remain at a time of economic slowdown — i.e. approximately two to three years.

Note that the reduced interest rates only provide for the first time, and not for the entire term of the mortgage.

Related posts:
The Ministry of justice decided to change the contract of rent: the elderly get more money
The Crimea became completely free from the Ukrainian electricity
Russia became the leader by number of clients Mossack Fonseca
The arrested Deputy head of the Spetsstroy Buryakov suspected embezzlement of 450 million roubles

Recommended

More Stories From Economy