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The government of the Russian Federation called the current mortgage rates too high - EastRussia | Far East

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The government of the Russian Federation called existing mortgage rates too high

The government of the Russian Federation called existing mortgage rates too high
Photo: pixabay.ru
Deputy Prime Minister Marat Khusnullin called the average mortgage rate in Russia overstated. Now it is 9% and, in his opinion, will not allow achieving results on the national project “Housing and Urban Environment”.

“Do we have to break the veins in order to build 120 million sq.m. and sell them. Can we build who we will sell them to? Or will we drive everyone into mortgage bondage at 9% and people won’t eat?” - leads "Interfax"the words of Marat Khusnullin.

The Vice Prime Minister noted that the task of increasing the commissioning of new housing has to be solved against the background of the transition to project financing, which will slow down many construction projects. The cost per square meter will increase and to ensure its accessibility to the population, it is necessary to reduce mortgage rates.

According to the national project passport, by 2024, the mortgage rate in Russia should drop to 7,9%. The volume of mortgage loans intend to double to 2,26 million transactions.
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