Citizens of the Russian Federation, like other foreigners, can take a mortgage abroad on quite convenient terms, RBC Real Estate reports on Tuesday.
The most favorable conditions for mortgage lending are in those countries where this service is particularly developed. First of all, this is about Germany, France, Spain, Britain, the USA, Canada and the Scandinavian states.
It should be noted that in those countries where housing is relatively inexpensive, the mortgage pattern is less favorable for foreigners. So, in Bulgaria and Turkey, where Russian citizens like to spend holidays and buy housing, real estate is inexpensive — at an average price of up to 50,000 euros. At the same time, the mortgage rate reaches almost 10% there.
In Montenegro, the rate is lower by half, but it is extremely difficult for foreigners to obtain a mortgage loan in this country. And vice versa, in countries such as Germany, the cost of a residential property exceeds 100,000 euros while the mortgage rate accounts just for 2%.