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BANKS HAVE INTRODUCED A NEW COMMISSION FOR MORTGAGES

Since October, Russian credit institutions have been introducing a new commission – about 6.5% of the loan amount - on mortgages under market programs. The fee will apply to housing developers or borrowers themselves. The new mortgage commission will affect transactions for the purchase of primary and secondary housing, as well as private homes. It already operates in VTB, Sberbank and Alfa-Bank, Kommersant reports. As experts explain, such a fee is a necessary measure. Earlier,...

Real estate prices may fall by a third in Russia

... factors. These circumstances led to an unprecedented drop in demand - up to 75%, which may lead to lower prices. However, according to real estate experts, a public decline in apartment prices is still not worth waiting for in the nearest future. The developers can resort to a different mechanism - providing discounts through subsidized mortgage programs. As for the open discounts, they are still possible for the categories of expensive and the least liquid real estate. In case no new preferential programs are introduced next year, the demand for apartments will gradually decline. At ...

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