The program of preferential mortgages with state support for new buildings has almost exhausted itself, and its completion after July 1 will have a minimal impact on the activity of the primary housing market in St. Petersburg.
This opinion was expressed by Denis Sitatelev, General Director of the operational business of Lenstroytrest Group.
According to him, the state mortgage subsidy program, first at 7% and then at 8% per annum, was really very important to support the industry in the most acute phase of the coronavirus pandemic and further, when problems related to sanctions pressure began. However, it certainly had side effects: a surge in investor activity due to low mortgage rates warmed up real estate prices. As a result, buying a home turned out to be difficult for those who really needed to improve their living conditions, and did not seek to earn money.
Another disadvantage was the sharp increase in the price gap between the secondary and primary markets. But they are closely interrelated, and the most common scheme for purchasing an apartment in a new building is the sale of existing housing.
The expert also noted that most of the apartments under construction in St. Petersburg and a significant part of the facilities in the Leningrad region no longer fit the new lending limits under this program, established in December last year. Thus, the termination of this program will not significantly affect market activity.
“I believe that it has really exhausted itself and will probably remain in one form or another only in those regions where few new housing is being built. And the authorities are likely to switch to targeted targeted programs for certain categories, for example, doctors or teachers, thus cutting off investors from the mortgage market,” Denis Sozdatelev believes.
Источник: www.bn.ru
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