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5% mortgage rate to double Russian construction market

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5% mortgage rate to double Russian construction market

The decrease of the mortgage rate to 5% will result in the growth of the Russian construction market at least twofold, Boris Titov, RF Presidential Commissioner for the Rights of Business People, spoke at the Russian national educational forum for the young, taking place in the Vladimir region.


To remind you, in the beginning of March Titov presented the “Growth strategy of the Russian economy”, where the decrease of the mortgage rate to 5% at the expense of state support was proposed.

I general, he said, the economy is surviving bad times, and construction is always a risky investment. The decrease of the mortgage rate to 5% is one f the most important decisions of the “Growth strategy”. It does not cost much for the state, 150 bln roubles, but it will double the construction market of the country, Titov is sure.

He also appealed for the struggle against illicit payoffs in the banks. “The situation is changing, it is becoming more transparent, and we should struggle against the existing problems together”, he said to the participants of the forum.

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