Russia’s average mortgage rate fell to 9.57%
According to the Central Bank of Russia, the average ruble rate on mortgage housing loans in Russia has reached a minimum in April, amounting to 9.57%, RIA Novosti reported on Wednesday.
Advantageous mortgage as driver of affordable housing market development
In January, Russian President Vladimir Putin instructed the government, Central Bank, and Dom.rf to devise measures for increasing mortgage affordability for citizens and reducing a mortgage rate down to 8%. This could be an effective driver of growth in sales of apartments in the primary market.