The average salary in the capital is less than the average mortgage payment. The same situation is in St. Petersburg and Kazan
Moscow
Moscow took the first place in the ranking of million-plus cities in terms of the unavailability of mortgage housing, based on the ratio of average salary and average mortgage payment in the secondary housing market. The average salary in the capital turned out to be 27.3 thousand rubles less than the mortgage payment, it follows from the study received by the editorial office “CYANOGEN.Analysts”.
According to their data, the average salary in the capital is 118.7 thousand rubles, and the average mortgage payment in the ready—made housing market is 146 thousand rubles. Thus, the average family of two working people will have to spend 62% of their total income on mortgage payments, and after deducting the subsistence minimum, all 79%.
As they thought
Calculations were carried out for one-room apartments in cities with millions of inhabitants. The average cost of an apartment is calculated as the average price of 1 sq. m. in the offer on the platform, multiplied by 38 (typical square footage of a single room). When calculating the average mortgage payment, the following introductory factors were taken into account: the rate is 17%, the loan term is 25 years, the initial payment is 20%. Information on the average salary is obtained from the Database of indicators of municipalities of the Federal State Statistics Service (data for 2023, net of personal income tax).
The second place in the “inaccessibility rating” was taken by St. Petersburg with an average salary of 82.8 thousand rubles, which is 15.9 thousand less than the average mortgage payment (98.7 thousand rubles). At the same time, the share of mortgage loan servicing costs will amount to 60% of the total budget of a family of two working people, and if we take into account the cost of living, then 76%.
Kazan closes the top three, where the average mortgage payment is 83 thousand rubles, which is 15.6 thousand more than the average salary (67.4 thousand rubles), the share of expenses from the family budget for a mortgage is 62%, and after the cost of living is deducted — 78%, CIAN clarifies.Analytics”.
The most favorable situation for mortgage borrowers is in Krasnoyarsk. The average salary in the city is 73 thousand rubles, and the average mortgage payment is 55.8 thousand rubles, which is 17.2 thousand less. 38% of the budget of a family of two people will be spent on loan servicing in Krasnoyarsk, and if you deduct the cost of living — 51%.
The recommended share of mortgage payments in income is much lower than this level. According to experts interviewed by the editorial board, banks can approve mortgages at an indicator of 50-70% or even higher, but a comfortable level is about a third of income.
Domclick analysts advise that when planning mortgage expenses for comfortable maintenance, do not go beyond 30% of total income. “This figure is considered the optimal level, which allows you to pay mandatory monthly mortgage payments, as well as maintain financial stability and be able to carry out other necessary expenses,” the press service noted.
Availability of monthly mortgage payments in the secondary market of cities with millions of residents The city Average salary, thousand rubles per month Average mortgage payment, thousand rubles per month By how much the average salary is lower or higher than the average mortgage payment, thousand rubles. Share of mortgage payment expenses from the total income of a family of two people Share of mortgage payment expenses from the total income of a family of two people after deduction of the subsistence minimum Moscow 118.7 146 -27.3 62% 79% St. Petersburg 82.8 98.7 -15.9 60% 76% Kazan 67.4 83 -15.6 62% 78% Nizhny Novgorod 66.2 69.4 -3.2 52% 69% Volgograd 51,6 48,8 +2,8 47 %66% Samara 60,2 55,8 +4,4 46 %63% Rostov-on-Don 62,8 57,6 +5,2 46 %61% Omsk 57,2 50,2 +7 44 %59% Krasnodar 65,9 57,9 +8 44 %58% Ufa 64,5 55,1 +9,4 43 %56% Voronezh 58,4 47 +11,4 40 % 54% Novosibirsk 68,5 56,2 +12,3 41 %54% Chelyabinsk 59,8 47 +12,8 39 %53% Yekaterinburg 73,6 59,6 +14 41 %52% Perm 64,7 49,5 +15,2 38 %50% Krasnoyarsk 73 55,8 +17,2 38 %51% Data: “CYANOGEN.Analytics”
“For comfortable mortgage servicing, the buyer [of secondary housing in megacities] must receive an income above the city average. In the case when the buyer buys an apartment alone, and this is relevant for all cities with millions, the remaining funds after paying off the housing loan are not enough even for a living wage,” says the expert of CIAN.Analysts” Elena Lapshina.
According to Yandex Real Estate, in February 2024, Moscow topped the rating of major Russian cities in terms of the rate of decline in the average price of 1 sq. m. m of secondary housing. Compared to January, the “square” in the city has fallen in price by 0.68% and now costs 327 thousand rubles.
See also:
- Domclick recorded a redistribution of mortgage demand in February
- The mortgage is up: how to buy an apartment without the help of an expensive loan
- The Central Bank has identified new sales schemes in the market of new buildings: what are their risks and benefits
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