Mortgages began to decline

In the past year, Russian banks have helped developers and realtors Moscow to increase the number of transactions in the housing market in half. Thanks to the liberalization of the mortgage amount want to buy apartment buildings in the capital increased in the second half of the year by nearly 20%, estimated by experts of the Consulting Group "NEO Center." Nevertheless, the growth rate mortgages fell short of expectations of market participants who expected to return about a quarter of clients from the pre-crisis level of borrowers. In the second half of 2010, the mortgage market in Moscow and Moscow region has shown a tendency to grow confident and Development, said the study group "NEO Center." Number of people willing to buy housing in the primary market of real estate capital region with the help of loans increased by 18%, says manager of residential real estate assessment department "NEO Centre" Marat Abdullin. So, with the July 2010 increase in the volume of transactions in one-room flats was 7%. In total purchases in the market of the Moscow apartment housing has traditionally lead economic class, which accounted for 86% of transactions involving mortgages. Buyers of business class sought help banks in 10% of cases, while the share of transactions in the market of luxury housing in the total amount of mortgage lending was only 4%. According to the "NEO Centre" for the first nine months of 2010, banks lent 234.2 billion citizens to rub., Which is 54% higher than last year (152.5 billion rubles).. Nevertheless, recorded in the second half growth rate mortgage does not meet the expectations of participants of the Moscow real estate market. In the summer of experts "NEO Centre" had hoped that by year-end demand for mortgages will increase by 30%. According to optimistic forecasts of Penny Lane Realty, banks can return to a quarter of the pre-crisis volume customers borrowers. Still hope for full recovery of the pre-crisis demand this year is not worth it, warned in September, director of private and corporate lending Penny Lane Realty, Marina Melkonyan. Banks will have to liberalize the mortgage, but to reasonable levels, without risk to themselves. In the new year development of the mortgage will depend on the extent and nature of state involvement in the person of AHML. The experts' NEO Centre "expect shape the development of such government programs as the military mortgage, maternity capital, as well as aligning the interests of all participants in the balance of mortgage relations (borrower, lender, investor, developer). "If the forex stock market there will be no disasters, then in 2011, mortgage rates fall below pre-crisis", - believes Ms. Melkonian. This should reduce the cost of housing, summarize the experts.