The Russians have taken up the savings hoarded in the housing


Россияне проели сбережения, которые копили на жилье

Speaking on 11 April at the state Duma with the report of the government, Dmitry Medvedev said that in the current economic conditions afford to get a mortgage maybe every third Russian family. According to him, currently in the country have the lowest for all history of mortgage rates — less than 10%. This circumstance contributed to the fact that in 2017 more than 1 million families have taken about 2 trillion rubles for the purchase of housing. And in January-February of 2018, according to the official, “the issuance of new loans has almost doubled”.

It is worth noting that the Prime Minister is practically not sinned against the truth. Published by the Central Bank data show that in the period from January to early April 2018 population was provided to nearly 300 thousand mortgage loans, the total of which amounted to 582 billion. That is, compared to the same period last year, according to experts on a question, the number of loans increased by 68% and their total monetary amount increased by 81%, effectively updating the historical highs.

Analysts “Metrium” I think the main thing that encourages people to apply for mortgage products low interest rate on them. By the end of the first quarter, they point out, this index reached its lowest value yet in the entire history of existence, slightly fluctuating around the level of 9.64% per annum, while the previous year the weighted average interest rate was more than 2 percentage points higher.

Commenting on these positive trends, the General Director of company “Metrium” and a member of the affiliate network of CBRE Natalia Kruglova notes that consumer demand is still concentrated in the segment of finished housing. While its counterpart, the General Director of the IKON Development Evgeny Akimov, expressed the hope that in the near future the Central Bank will keep the rate of reducing the key rate to hesitant citizens do not postpone the purchase of housing in the hope for better times, and become more actively involved in this market.

Experts secondary housing market also record a record performance in the provision of targeted loans to purchase housing. So, citing its own statistics, the service of mortgage lending of the company “INKOM-real Estate” notes that gradually gets to the maximum indicators of the average amount of such loan (at least within the Metropolitan region) has finally won a historic peak. At the moment, say “oncomouse”, it reached a record over the entire period of existence of the market the level of 4.2 million rubles, having increased since the spring of 2014 by 13.5% (then, it was 3.7 million rubles).

Prior to that, experts say, in the Moscow market of second-hand apartments in the last three years have seen a decline in prices. Start of this phenomenon happened in the spring of 2015, right after the average cost of one square meter in the secondary market reached a historic high of 200.2 thousand. Then, by the way, a small army of buyers of such apartments thinned by a third and was forced to issue a loan of 3.9 million rubles with the rate of under 19% per annum.

It is noteworthy that four years ago the average mortgage loan amount was 56.9% the average cost of typical “odnushki” in the residential area of the capital (which at that time was trading for 6.5 million rubles), 41,6% of the cost two-bedroom apartments (8.9 million rubles) and 28.5% of the cost three-pointers (13 million rubles). Now housing prices fell, thus increasing the average loan size currently amounts to 73,7% of the average market value of a typical Studio apartment (5.7 million rubles). In relation to the “kopeck piece” (7.7 million rubles) and “treshka” (or 9.8 million) these ratios reach respectively 54.5% and 42.9% of. Taking into account the fact that the boundaries of Moscow at the exposition a little less than 190 objects worth up to 4.2 million rubles, analysts conclude that the average amount of a mortgage loan is practically equal to the price of the cheapest model “odnushek”.

This state of Affairs experts associated with two factors. In the first place, says, in particular, the Director of “inamescope” Department of the secondary market Sergei Shloma, this situation is attributable to lower interest rates on loans, and, consequently, increase the availability of mortgages. Such conditions, according to experts, this segment of the housing market has not happened: average mortgage rate fell to 9.8% per annum (in April 2015 is 19.5%). Moreover, even objects lost in the price about 23%.

Therefore, if in 2014, citizens issued a loan for 3.7 million rubles on 12,3% for 20 years, his monthly payment was $ 41.5 thousand rubles. Now, making a Bank loan for the same period to 4.2 million rubles at 9.8 per cent per annum, he will pay the Bank monthly order to 39.9 thousand rubles. This certainly indicates improved market conditions for buyers, which in this case, not a loose budget, get the opportunity to buy accommodation for themselves with better consumer characteristics than four years earlier.

But, on the other hand, there is a strong negative component. In the same 2014, explains Sergey Shloma, people had a soul more private savings, and thus make it easier for them to purchase housing with minimal use of leverage, or even none at all. Today, these customers are much less, if spring is at least informed in the loan money when you purchase real estate needed high every fourth citizen, now is actually already every third.

With the end of 2017, realtors are increasingly faced with potential buyers who are interested in a mortgage with no down payment. Interested in such people the most expensive items (with a price tag of around 4 million), having only the most minimal funds, which is only enough for insurance and the costs of the transaction itself. That is, the ability to service the debt they have, and saving for a down payment are absent. With such a phenomenon at this level, the professionals real estate faced ten years ago, before the onset of the 2008 crisis, however, it now begins to clearly manifest themselves. This suggests that the monetary accumulation of Russians had been virtually depleted so that no choice except increasing the debt burden in the process of solving their housing problems, they, unfortunately, do not see and do not fear.

Perhaps the only thing that prevents this phenomenon to become a new full-fledged trend of the market of used apartments is the fact that currently mortgage programs without an initial payment for such housing no brainer.


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