Economy

Prices for apartments in new buildings rose sharply due to preferential home mortgage

Experts predict a drop in prices to normal values since November 1, when the mortgage program ends. Another reason for raising prices could be the deposit tax.

Prices for apartments in new buildings rose sharply due to preferential home mortgage
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The introduction of preferential mortgage at 6.5% during the coronavirus pandemic caused increasing demand and prices for housing in new buildings.

Irina Radchenko, president of the International Mortgage Academy, suggests that housing prices would have returned to the values of last winter by November 1, because Russians' incomes do not grow, and the state of the economy is in doubt.

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Another reason for the price increase could be the deposit tax, which begins to work next year. Thus, now people take their savings from banks and invest them in the real estate sector.

 

Photo: from open sources

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