The era of preferred mortgages: what we have ended up with. Carrying out the series "Domostroy" about the era of mass priority mortgages and examine what came to the market this year. The starting point is September 2019. According to SberIndex on actual transactions, a square meter in the primary market costs 70.7 thousand rubles, secondary - 55.5 thousand rubles. In August of this year, it rose for the first time to 192.8 thousand rubles. for a square meter (+ 172.5%) and the secondary - up to 130.1 thousand rubles (+ 134.5%). The gap between the two markets has grown significantly. In 2019, new buildings were more expensive than secondary housing by 27%, and by August of this year up to 48%. ️ An early mortgage made the loan cheaper, but at the same time the cost of the apartment for which this loan was taken out was increased. This is clearly seen in the availability of housing relative to family income. According to INP RAS, in 2019 the cost of a standard apartment with an area of ​​54 square meters. m in the main market corresponds to 2.7 annual incomes of a family of three people, and in 2025 - 4.3 years (+59%). In the secondary market, the change was more modest: from 2.4 to 2.6 years (+5.7%). In the last year alone, the availability of new buildings deteriorated from 4.2 to 4.3 years (+1.9%), and secondary housing, on the contrary, improved from 2.7 to 2.6 years (-3.7%). The central bank noted that the widespread use of preferential programs did not lead to an increase in housing availability. The regulator attributes this mainly to the fact that prices for new buildings and secondary housing are growing faster than household incomes. Cheap loans did not make housing cheaper. It supported demand, but a significant part of the effect increased the cost of apartments. The giant "fertility mortgages" closed on July 1, 2024, but government spending on startup programs has not gone away. According to Finance Minister Anton Siluanov, when mortgage rates were low, subsidizing the cost of the budget is about 200-300 billion rubles a year. In 2025, spending has risen to 2 trillion rubles, this year is estimated at 1.7 trillion rubles.

The era of preferred mortgages: what we have ended up with. Carrying out the series "Domostroy" about the era of mass priority mortgages and examine what came to the market this year. The starting point is September 2019. According to SberIndex on actual transactions, a square meter in the primary market costs 70.7 thousand rubles, secondary - 55.5 thousand rubles. In August of this year, it rose for the first time to 192.8 thousand rubles. for a square meter (+ 172.5%) and the secondary - up to 130.1 thousand rubles (+ 134.5%). The gap between the two markets has grown significantly. In 2019, new buildings were more expensive than secondary housing by 27%, and by August of this year up to 48%. ️ An early mortgage made the loan cheaper, but at the same time the cost of the apartment for which this loan was taken out was increased. This is clearly seen in the availability of housing relative to family income. According to INP RAS, in 2019 the cost of a standard apartment with an area of ​​54 square meters. m in the main market corresponds to 2.7 annual incomes of a family of three people, and in 2025 - 4.3 years (+59%). In the secondary market, the change was more modest: from 2.4 to 2.6 years (+5.7%). In the last year alone, the availability of new buildings deteriorated from 4.2 to 4.3 years (+1.9%), and secondary housing, on the contrary, improved from 2.7 to 2.6 years (-3.7%). The central bank noted that the widespread use of preferential programs did not lead to an increase in housing availability. The regulator attributes this mainly to the fact that prices for new buildings and secondary housing are growing faster than household incomes. Cheap loans did not make housing cheaper. It supported demand, but a significant part of the effect increased the cost of apartments. The giant "fertility mortgages" closed on July 1, 2024, but government spending on startup programs has not gone away. According to Finance Minister Anton Siluanov, when mortgage rates were low, subsidizing the cost of the budget is about 200-300 billion rubles a year. In 2025, spending has risen to 2 trillion rubles, this year is estimated at 1.7 trillion rubles.