Photo: Oleg Karsaev / “Kommersant”
The volume of mortgage lending in Russia by the end of April was greatly reduced due to the Russians ‘ hopes for further rate cuts. Such opinion in conversation with URA.RU expressed financial Advisor, candidate of economic Sciences Maxim Krivelevich.
“Now there are discussions of various support programmes. People are afraid to potorgovat and get a mortgage at an inflated rate, this financial product is designed for years”, — explained the expert. In addition, according to the economist, the reluctance to take out a mortgage due to the fact that people do not feel confidence in the future.
In the country as a whole there is a decline in investment demand, said Krivelevich: citizens refuse to buy not only real estate, but also cars, gold, diamonds.
A survey conducted in the fall of 2019, showed that only every fifth Russian (19%) allows for the possibility to issue housing loans. 72 percent of the country’s citizens completely rule out the possibility of using mortgage. The main reason why people do not want to borrow money to purchase real estate in the Bank, bad financial situation.
Video, photo All from Russia.