The availability of mortgages for Russians decreased in 2021. This was announced by Yegor Lopatin, Deputy Director of the Financial Institutions Ratings Group of the National Credit Ratings agency.
“The availability of mortgages has fallen: if in the fall of 2020 the average mortgage payment was 64% of the median salary, then by the end of last year it approached 70%. At the same time, it should be taken into account that the amount of the average payment is being held back by increasing the average term, which increased by three years last year and for the first time exceeded 21 years,” Lopatin emphasized.
According to experts, the situation will worsen this year.
“In 2022, due to higher rates, the availability of mortgages in Russia will still fall,” Lopatin said.
Alexander Tsyganov from the Financial University under the Government of the Russian Federation specified that an important indicator is declining - the housing affordability ratio (KDA). It shows how many years a family with an average income and two employees will be able to save up to buy an apartment of 54 sq. m.
“In recent years, this coefficient in Russia has been improving, in 2019 it reached 3.9 years, but now the accumulation period has grown to 5 years,” Tsyganov specified.
The head of the Central Bank, Elvira Nabiullina, said on February 11 that in 2021 the rate of issuing loans for housing increased by 27%, which is considered excessively high. In 2022, the Central Bank expects a decrease in the rate of issuance of mortgages.
bbabo.Net