In September, the share of Russians who consider the current moment favorable for buying a home reached its highest level since the beginning of 2020 and amounted to 44%.

Compared to April, the figure has almost doubled.

This is evidenced by the data of a survey of the company "DOM.RF" and the All-Russian Center for the Study of Public Opinion (VTsIOM).

The research results are available to RT.

Russian consumer sentiment has been improving since May as the real estate market recovers from the effects of the coronavirus pandemic.

Mikhail Goldberg, head of the DOM.RF analytical center, shared this assessment in a conversation with RT.

“In fact, the mood of citizens in the housing sector has returned to the state before the pandemic.

This was achieved mainly thanks to the timely deployed measures of state support - first of all, the program of preferential mortgages at 6.5% per annum, "Goldberg explained.

Recall, at the initiative of Russian President Vladimir Putin, the authorities launched a preferential mortgage program at a rate of 6.5% per annum back in April.

Under its terms, Russians can get loans with an appropriate rate for the purchase of apartments worth up to 12 million rubles in the Moscow and St. Petersburg agglomerations, as well as up to 6 million rubles in other regions of the country.

It was originally planned that the program will end on November 1, 2020.

Meanwhile, on October 14, at a meeting with the government, Vladimir Putin proposed extending the initiative until at least mid-2021.

“Taking into account the fact that the situation in our country is generally not easy, although the economy is recovering, it is still difficult for people, and for certain sectors of the economy, including construction.

Let's extend this privilege at least until the middle of next year, ”the head of state said.

As Prime Minister Mikhail Mishustin emphasized during the discussion, the provision of preferential housing loans has become one of the most successful anti-crisis measures.

According to him, during the period of the program, Russian banks have issued more than 220 thousand loans at a reduced rate for a total of 630 billion rubles.

Extending the terms of issuing soft loans can help improve living conditions for Russians and keep demand at a high level.

This point of view in an interview with RT was expressed by the general director of the WE KNOW brokerage company, Alexander Galitsyn.

Moreover, according to him, the initiative launched a new trend in the real estate market - more and more Russians prefer to buy apartments rather than rent a house.

“The decrease in mortgage rates has made the monthly loan payment comparable to the cost of renting an apartment.

This trend is especially visible in the rental market, from where demand is actively flowing to the sales market in the segment of new buildings.

At the same time, preferential mortgages became a key driver of growth in the primary real estate market in the second half of 2020.

According to our estimates, the demand for it has grown by 40%, ”Galitsyn said.

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In general, since the beginning of 2020, banks have issued more than 1 million mortgage loans to Russians for 2.7 trillion rubles.

This is evidenced by data from a joint study by DOM.RF and the Frank RG agency.

In September, credit institutions issued a record number of housing loans - more than 180-185 thousand for the amount of 470 billion rubles.

Compared to the same period in 2019, the indicator increased by 71% in quantitative terms and almost doubled in monetary terms.

“Thanks to mortgage programs, about 1.1 trillion rubles will be attracted to construction.

At the same time, it must be remembered that not only one developer is working on the implementation of a particular project, it is a whole chain of contractors, suppliers of construction materials and equipment - all these are millions of jobs and significant tax revenues, "the general director of the Construction Complex Rating Agency emphasized in an interview with RT (RASK) Nikolay Alekseenko.

It is noteworthy that analysts also associate the revival in the mortgage market with the stabilization of the economic situation in the country.

According to a survey by VTsIOM and DOM.RF, the share of those who fear losing their jobs in the next six months dropped to 13% - the lowest level since the beginning of 2020.

At the same time, 14% of respondents said that over the past six months their financial situation has improved, although in April-May there were no more than 8% of such respondents.

At the same time, one in five survey participants expects that their financial situation will continue to improve in the next six months.

With an eye on the Central Bank

According to analysts, a record decrease in the average rate on housing loans in Russia had a positive impact on the consumer sentiment of citizens.

As follows from the materials of the Central Bank, at the end of August, the indicator renewed its historical minimum and dropped to 7.16% per annum.

Traditionally, banks monitor changes in the Central Bank's key rate and, on the basis of decisions made by the regulator, independently determine the level of long-term lending rates, including mortgage rates.

In July, the Bank of Russia lowered its key rate to the minimum for the entire post-Soviet period (4.25% per annum).

“Now the key rate of the Central Bank is at a record minimum level in two decades.

The actions of the Bank of Russia not only contribute to a softer exit of the national economy from the crisis, but also help to keep the demand for real estate at a high level, ”said Artyom Deev, head of the analytical department at AMarkets, in a conversation with RT.

At the same time, against the background of growing demand and falling rates, specialists do not expect a significant increase in housing prices in the near future.

According to Ivan Kapustyansky, a leading analyst at Forex Optimum, by the end of the year in Russia it will be possible to observe a slight increase in the cost per square meter - within 4%.

“Further, the change in the indicator will largely depend on the actions of the authorities.

If the government continues to support preferential programs, then apartment prices will rise within inflation on the back of stable demand.

If this does not happen, then the indicator may begin to strive for the levels of the first half of 2020, ”concluded Kapustyansky.