In Russia, a mortgage today is in decline, declining, compared to last year, five times. Banks cannot offer citizens favorable conditions for mortgage lending to citizens of mortgage lending to citizens in the development of the economy.
The average mortgage rate is now 14.6% per annum (and this is twice as much as in developed countries). The initial contribution for the apartment is required in the amount of 50% of the cost. And although the state sets itself the goal of ensuring the availability of mortgage lending to all Russians, forecasts are disappointing. It will be possible to return to pre-crisis rates in the amount of 12-14% only after 2-3 years, and this despite the fact that 6-7% per annum is considered an acceptable rate.
Mortgage today
According to Alexander Semenyaka, General Director of the Agency for Mortgage Housing Lending, the restoration of the mortgage market will occur already in 2010, the volume of loans will reach the level of 2008. Now AIZHK has reduced the base interest rate to 9.55% (for comparison – in September the rate was 10.8%). Also, a mortgage today can be considered more stable, since the collapse of the cost of square meters of housing has ceased.
Mortgage today is more accessible to Russians of the middle class abroad. It is there that they prefer to acquire housing now, in addition, lending conditions allow this to do this. Spain most cordially accepts the inhabitants of foreigners, including Russian. The rate is 4-5% per annum, the loan term is up to 30 years, and the guarantee and guarantors do not require at all. True, their loan is issued by 65-70% of the cost of housing, despite the fact that last year they issued by 90%.
In almost the same conditions, a mortgage is today issued in France, for a period of 20-25 years at 4.8-5.6% per annum. Hospitality is pleased with Belgium, 20-30 years of loan without collateral and guarantors, the rate of 4.9-6% per annum. Citizens of Russia in Cyprus can receive the same loan, only at the highest rate of 5.5-7% per annum.
Türkiye does not very willingly offer housing on credit to foreign citizens. Demanding an impressive package of documents, they offer bets from 7.9 to 8.9% per annum, while not hiding that in reality they may be around 10-11%.
But in Greece, the mortgage can be issued only by providing the guarantor from the citizens of this country. Due to the bureaucratic system, it is difficult to get a loan in Italy. In any case, using a foreign mortgage proposal is now much more profitable than domestic.