2024-01-20 02:07:00
The secondary housing market is now stagnant and most likely sellers will reduce prices. Mortgage broker and real estate expert Dmitry Rakuta spoke regarding this in a conversation with URA.RU.
“According to the primary market [в период нестабильной ситуации на рынке недвижимости, вызванной комиссиями для застройщиков], we should not expect global changes. Perhaps there will be some promotions, auction offers, discounts from the developer, but globally this will not affect the cost per square meter. The secondary market will stagnate. It is already at a certain stage of freezing, because few people are ready to take out a mortgage at the market rate of 17%. On the secondary market, the cost per square meter will definitely continue to decline in 2024,” explained Dmitry Rakuta.
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General Director of LLC “Zodchiy” (construction of residential and non-residential buildings), member of the Moscow “Business Russia” Maria Olshanskaya, in an interview with URA.RU, noted that the current situation on the market is not critical and tools for saving remain. “The changes will not seriously affect the pace of housing commissioning and sales. Banks will accredit developers and will be able to adjust mortgage rates through other tools for them. For example, lending, special products for construction financing. In addition, there are also installment plans and deferments from the developers themselves, where the inflation rate is initially included in the price. Financing can be through bills or mortgages, there are housing and construction cooperatives. There are enough tools,” the expert emphasized.
The government has tightened the rules for issuing preferential mortgages. An initial fee increased to 30%, and the subsidy limit for banks was reduced by one percentage point. After this, credit institutions decided to compensate them at the expense of developers. Sberbank, VTB, Alfa Bank and Rosbank (occupying regarding 80% of the market) made a decision from January 2024 issue a mortgage only for the purchase of housing from their partner developers and introduced a commission for them for issuing loans, which did not make the developers happy. Disagreements between banks and developers regarding the conditions for issuing preferential mortgages have intensified. Russians are increasingly being denied housing loans. Thus, in January 2024, 35% of those wishing to obtain a mortgage were denied online applications, said Olga Sidorenko, development director of the digital platform Sdelka.RF.
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