Russia (bbabo.net), - The peak of growth in real estate prices in Russia has passed, says the head of the Central Bank Elvira Nabiullina.
On the air of the Russia-24 TV channel, she noted that mortgage rates will increase slightly, but real estate prices will not grow at a serious pace.
"We have experienced a serious rise in property prices, and we have passed this peak somewhere," Nabiullina said.
She added that one should not succumb to "rush behavior", it is better to look closely at the situation.
According to Knight Frank, in the third quarter the annual growth in prices per square meter in the secondary market in Russia increased by 14.6%, and adjusted for inflation - by 7.1%. Now in Russia there is a preferential mortgage program - you can buy a new building at a rate of up to 7% per annum, but the loan amount cannot exceed three million rubles.
Also, since July, the conditions for obtaining a family mortgage have been changed. Now, parents who have one child born from January 1, 2018 to December 31, 2022 can buy housing on preferential terms.
Nabiullina gave advice to families who want to take out a mortgage Text: Anastasia Selivanova When applying for a mortgage loan, a family should be guided by their financial situation, and not proceed from the assumption that rates may rise even more. The head of the Bank of Russia Elvira Nibiullina said this in an interview with "Russia 24".
According to her, mortgage rates have increased by one percentage point over the past year, despite inflation of more than 8%, so "running away, rushing to take out a mortgage loan is probably not worth it: you need to look at what individual conditions each family has." According to Nabiullina, the peak of growth in real estate prices has passed, and they most likely will not rise further.
As I wrote earlier, the increase in the Central Bank rate for the seventh time in a row could stabilize real estate prices. The regulator considered the rise in the cost of housing as one of the triggers of the inflationary process. Experts noted a significant increase in prices in Moscow, St. Petersburg, Krasnodar and Sochi.
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