2023-12-06 11:31:00
Sberbank does not see a bubble in the Russian mortgage market. This was stated by the head of the bank, German Gref.
“As for mortgages, we released a special report, we looked at whether there is a bubble in the mortgage market, we don’t see it. <…> Sometimes a bubble in the mortgage market is called the differentiation between prices in the primary and secondary markets,” German Gref clarified during a meeting dedicated to Investor Day. Broadcast took place on the Sber website. The head of Sberbank noted that in Moscow the mortgage gap is 36-37%. He attributed this to the fact that mortgages for primary housing are subsidized.
The head of the bank also dispelled rumors that people are taking out consumer loans en masse to save up for a down payment on a mortgage. “Only 0.15% of cases [это происходило]”, he emphasized.
Earlier, the Ministry of Finance of the Russian Federation proposed increasing the amount of the minimum down payment on preferential mortgages to 30%, betrays Life. At the Central Bank ready to support this initiative to protect people from the “debt trap”.
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