The authorities expect to keep the increase in housing prices within the inflation range.
The government wants housing prices not to rise faster than inflation, Deputy Prime Minister and Minister of Finance Anton Siluanov said at the State Duma plenary meeting. According to him, the containment of prices is important for the possibility of housing and the effectiveness of government support programs.
Against this background, the mortgage market faced a drop in demand. In October, after changes in the terms of family mortgages, the volume of issues decreased by 49.2% compared to September, to 308.8 billion ₽, the number of loans - by 38.8%, to 75.5 thousand. The changes had the greatest impact on new buildings: the issuance of family mortgages in the primary market decreased by 3.1 times to 88 billion ₽. At the same time, the demand for secondary housing remained at the level of September - 71.1 billion ₽, an increase of 12.8% during the year.