“I recently looked at statistics on the proportion of households with a mortgage in different countries, depending on the average level of disposable income.
And by these ratios, we are already practically approaching the limit of mortgage growth, ”Nabiullina said, answering the question of whether it is worth waiting for a new record in the issuance of housing loans in 2021.
She noted that "one must be very careful to ensure that the mortgage grows in line with the growth of incomes of the population."
"The level of mortgage penetration may not be very high in comparison with many countries," the head of the Central Bank said.
At the same time, according to her, “it is important to look not just at the number of people who took it, or at the share of GDP”.
Nabiullina said that "a mortgage is a loan for many years, it needs to be serviced, there must be an appropriate level of family income," the chairman of the Bank of Russia believes.
Earlier, the Russian government extended the Family Mortgage program until 2024.
Prime Minister Mikhail Mishustin noted that the decision will help more families buy their own homes, as well as support a number of industries, strengthen the demand for goods and services that people need.