The real estate expert explained the reluctance to extend the preferential mortgage by the debt burden major cities of the country. Real estate expert Dmitry Rakuta told about this to the TV channel “360”.
According to the expert, the program has lost its relevance for large cities due to the maximum loan amount limited by the authorities to three million rubles – the amount will not be enough due to the high housing prices in megacities. “In fact, preferential mortgages have been retained specifically for regions where the cost per square meter is significantly lower, and thus potential clients and developers could be supported,” Rakuta explained.
The expert also linked the situation with tightening monetary policy The Central Bank also predicted a rise in the price of mortgages in the regions. He suggested that the market has reached a ceiling – the owners have issued a sufficient number of loans. “And at some point it is necessary to curtail the program so as not to create a mortgage bubble,” Rakuta noted.
Earlier, the head of the Central Bank Elvira Nabiullina said that the regulator does not consider it necessary to extend the program of preferential mortgages in Russia and proposes to complete program on schedule, since in addition to preferential mortgages for new buildings, there are other mortgage programs in Russia for certain categories of citizens.