The Ministry of Finance has no plans to extend preferential mortgages, and this is a dangerous decision
Earlier Marat Khusnullin said that the government must support the industry, otherwise we will have a crisis.
The increase in concessional mortgage rates could lead to a sharp drop in housing costs and a crisis of "non-payment" by developers. Demand for mortgages is already low: Russians are not willing to take on mortgages in conditions of uncertainty.
Earlier, the Central Bank canceled the mortgage from the builder at 0%, fearing the threat of a bubble in the housing market. Today, the Ministry of Finance has abandoned the preferential mortgage at 7%. The question arises: will there be any demand for 15-20% mortgage in Russia at all?
Discussions on extending preferential mortgages should continue. If not, then the Russian real estate market can expect the "Chinese" scenario, and as a consequence, a drop in GDP.