A decrease in the affordability of buying a home on a mortgage in new buildings was recorded in the regions where in 2020 there was the highest demand for mortgages. At the same time, on the secondary market, apartments for purchase on a mortgage, on the contrary, have become more affordable. The corresponding conclusions were made in the study of Sovcombank, which Izvestia got acquainted with on August 22.
Thus, the most noticeable decrease in availability is observed in Krasnodar (by 20%) and Perm (by 18%) regions, as well as in the Moscow region (by 15%). In Moscow, this figure was about 10%.
At the same time, the availability of home purchase on credit has decreased precisely in those regions where last year there was the greatest demand for mortgages, said Alexander Gutorov, Commercial Director of Strana Development Group.
In turn, Tatyana Reshetnikova, deputy head of the mortgage department of the federal company Etazhi, suggested that the decline in the level of housing affordability may be associated with a decrease in income and an increase in the costs of potential borrowers. Also, an increase in the average cost of 1 sq. m last year was higher than usual.
In the secondary market, the availability of apartments has increased slightly. This trend was recorded in the Volgograd, Saratov, Samara, Moscow, Novosibirsk and Rostov regions, in the Stavropol and Perm regions and a number of other subjects.
However, in some regions this indicator also decreased, for example, in Krasnodar Territory (by 11%), Nizhny Novgorod (by 11%) and Kemerovo regions (by 10%).
Read more in the exclusive material from Izvestia:
Expensive to home: why the availability of new buildings for mortgages has decreased