Photo: Andrey Popov / RIA Novosti
The average rate on mortgage loans in Russia will decline from 10.24 to 9-9,1% per annum until the end of 2019. This is stated in the provided “Tape.ru” the public Council under the Ministry of construction and housing and communal services of the Russian Federation.
According to the statistics of the Board, the minimum rates of the major players in the mortgage market for the purchase of apartments in new buildings in September 2019, the range from 8 to 11 percent per annum. However, another reduction of the key rate of the Russian Central Bank should lead to the easing of banking conditions for borrowers, predicts the public Council at the Ministry of the Russian Federation. In 2020, the conditions on housing loans continued to decline. At the same time to maintain demand for new base rate should fall to 7.8 per cent.
“The economic development Ministry predicts a further reduction of the key rate, which in turn will lead to lower mortgage interest rates by 1-1. 5 per cent by the end of the year to the level of 9-9,1% per annum. A gradual decrease in the cost of the mortgage will be observed in 2020. The decline in mortgage rates should be a key driver for the real estate market in transition” — presented in the materials the words of a member of the public Council under the Ministry of construction and housing and communal services of the Russian Federation Rifat Garipova.
According Garipova, with the growth of cost of square meter of primary housing in Russia for 8-14 percent of the banks should strive to base rates on mortgages at 7-8 percent per annum. “This will allow developers to maintain the demand, and buyers will provide a real opportunity to buy their own homes,” — said the expert.
Wednesday, September 11, it became known that Sberbank until the end of 2019 plans to reduce mortgage rates. The previous decline was held in early August.
Video, photo All from Russia.