Apartments in Moscow have stopped buying for cash

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www.vsyako.netPhoto: Evgeny Pavlenko / Kommersant

Of the acquisition of new housing in Moscow is rarely conducted in cash in June 2020 in the capital market of new buildings (excluding Zelenograd and annexed territories) was signed only 1.1 thousand pipetech sales of apartments. This is stated in the materials of Level Group, arrived in edition “Tapes.ru”.

According to analysts, in the first month of summer in Moscow was concluded 2.2 thousand mortgage transactions is 4 percent below the level of June of the previous year. Pipetech the number of transactions at the same time fell by a record 49 percent (annualized).

“Muscovites continue to refuse to purchase the home for cash, say the experts. In comfortclass reduction pipetech transactions related to the negative macroeconomic trend, falling income levels and transition to savings and consumption model. In these circumstances, the subsidized mortgage has become a powerful driver of demand and provided to the buyer the significant support.”

In the segment of business class in turn, many stopped to buy housing for cash because of the unwillingness to invest large sums in property, withdrawing money from circulation.

“In General, today we see how the changing understanding of the banking product, mortgages are becoming more interesting and is regulated not only through rate, but through the initial payment amount, the date of the first payment and so on,” concluded Level Group.

In June 2020, the average size of mortgage loans in Russia amounted to 2,49 million roubles, on 300 thousand more than in may. On an annual basis (compared to June 2019) the average amount of housing loans increased by 1 percent.

Video, photo All from Russia.

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