❗️The cost of rental housing in Russia will double by the end of the year due to an increase in mortgage rates to at least 24% — “Izvestia”
The main reasons will be the cancellation of preferential mortgages (which ended on July 1), the increase in the cost of building materials and the increase in the key rate of the Central Bank, which has already announced its possible increase to 18%. Accordingly, there will be increase in mortgage rates to at least 24%, market representatives say.
Thus Mortgages will no longer be available to most Russians. And those who have savings will wait for more comfortable market conditions.
Pent-up demand will also lead to increased demand for rental housing.
