“As the person in charge of the industry, I will defend the right and will prove that the mortgage should be extended further, that without this the development of the country and the implementation of national projects are impossible,” TASS quoted him as saying.

Earlier, at a plenary meeting of the State Duma, the chairman of Tsetrobank Elvira Nabiullina did not rule out a decrease in housing affordability in the country due to rising prices in the primary market. 

She noted that the timely completion of the anti-crisis program will prevent bubbles and balance supply and demand.

The Central Bank singled out three key factors for the rise in prices: increasing the availability of mortgages, the growth of investment attractiveness of housing and an insufficient level of supply in the primary market.