Rus News Journal

Experts prophesy a sharp rise in prices for habitation

Till spring of next year of the price for habitation in Russia will be in stagnation. However then the rough splash comparable to what accompanied the market within 2006 when as a whole across Russia the habitation has risen in price more than for 40 percent, and in Moscow - on 100 will follow. This forecast on a press - conferences in Moscow was published yesterday by experts of the market of real estate and mortgage lending.

During the period since spring of 2008 till spring of 2009, they assure, cost of square metre, in particular in capital and Moscow suburbs, will fly up twice. In capital of the future Olympic games - Sochi - they will rise four times.

the Vice-president of Association of builders of Russia Vladimir Ponomarev considers that while Russia does not leave on rates of building - 100 million square metres a year, about any depreciation of square metre cannot go and speeches. While solvent demand for real estate twice exceeds quantity of offers existing in the market, the tendency of growth with some periods of stagnation " will proceed; - he considers. We will remind that according to the national project about accessible and comfortable habitation to reach an annual lath in 80 million square metres the country should in 2008. The expert is assured of successful development of the national housing project which, naturally, will not end next year. And, means, by 2010 Russia will try to leave on rates of building of habitation on 100 million square metres a year.

And whether the mortgage - a question disputable will promote it here. Banks not too willingly finance today the primary market. After all at mortgage transactions the apartment which in case of infringement by the borrower of obligations on repayment of the credit the bank always can successfully realise becomes object of pledge. And at a loss precisely does not remain. When the real estate in the project or is under construction, it is not known to what liquidity as a result the product will turn out and whether in general it will turn out. Therefore large domestic banks more often (approximately in 80 percent of cases) today give out credits for habitation acquisition in the secondary market.

As to frightened many crisis which has amazed the mortgage market in the USA here experts are uniform in opinion: to Russia anything similar does not threaten. As the head of the analytical centre " considers; Indicators of the market of real estate Oleg Repchenko, our country is not absolutely correct for comparing to the USA. In America about 90 percent of transactions on real estate acquisition pass through a mortgage and risks of non-payments in the key image influence the market. And at us as already it has been told above, only 10 - 12 percent of buyers use a mortgage, therefore its role in the market is not defining, and the most expensive Moscow market in general is oversaturated live Money.

Nevertheless in what experts also converge, today`s conditions of delivery of a mortgage loan at times amaze with liberalism. A number of banks has lowered a lath of requirements to clients below any reasonable limits. it would Seem, so far as concerns the product most necessary and expensive to the person - own habitation, banks should be convinced of solvency of the client and estimate, whether on forces to it to pull percentage burden for many years, - tells Repchenko. - Instead there was a new condition of delivery of a mortgage loan, without an initial payment. However the similar public relations - a course frankly contradict bank everyday practice. And it shows that if the person has brought at least 10 percent from cost of the future habitation, he is already interested in credit repayment. It is reasonable to assume also that if the potential borrower has saved up 30 percent from habitation cost it in a condition to save up and other sum. In a situation when still it is paid nothing, the person can easy refuse both the credit, and from apartment . But, fortunately, only individual banks play today such risky games. Therefore, as Valery Kazejkin if today someone from them and had problems with borrowers believes, they with them will quickly understand and in the market of mortgage lending it will not result in any crisis.

Besides during the periods of stagnation of the prices as the main analyst of the Russian guild rieltorov Gennady Sternik believes, the quantity of mortgage transactions will increase, during the rapid growth periods - to decrease. It turns out, right now it is high time to attend to acquisition of real estate with mortgage use.