the Program of preferential mortgage, which will officially launch in Russia on may 1, 2020, would provide significant support to developers, but the negative impact on the secondary housing market, according to an article published on the website of the analytical center “Indicators of real estate market” (IRN).
according to analysts, the launch of mortgages on housing under construction at 6.5 percent will lead to a sharp outflow of demand in buildings. The sellers, private traders, as a rule, are extremely reluctant to reduce price tags, and because the number of transactions with “the secondary” reduced to a minimum. “And the market will actually fall into a coma, as happened in 2015 due to launch of the previous version of preferential mortgages for new buildings”, — analysts predict.
In General, they are positive about the new program of preferential housing loans. “Given that the mortgage becomes more expensive with the decline of incomes of the population, stopping construction projects, transfer of sales to online and other negative consequences of the epidemic of the coronavirus, the demand for new buildings is definitely in need of support”, — stated in IRN. “But the secondary housing market support from the state to wait just is not necessary”, — sums up the experts.
that in Russia will launch a special preferential mortgage program, President Vladimir Putin said on April 16. The measure is aimed at supporting the construction industry and citizens during the period of the spread of coronavirus. Formally, the program will operate from 1 may, but most major Russian banks from April 20 began to accept applications from citizens wishing to obtain a mortgage at a reduced rate.
to Arrange a mortgage on favorable terms is possible until November 1, 2020, a reduced rate will be in effect for the entire crediting period. The programme is allowed to purchase housing in the new building, the maximum mortgage amount is limited: in the Moscow region, Saint-Petersburg and Leningrad region it is 8 million rubles, in other regions of Russia — 3 million rubles.
