At the disposal of the PRIME-TASS have been recorded on the number of mortgage transactions in 2007 to market a secondary property in Moscow according to the FRS. Yet in the service of neither confirm nor deny the figures could not. Or would not? Nevertheless, the fact that, besides the usual data on the amount of the mortgage market the Russian public for the first time in public can look at a mortgage from a different perspective - is an event. Although Mosregistratsii referred to the fact that this data is for internal use only, and later the agency received their confirmation in the department of housing policy and housing in Moscow. What are the results of 2007, mortgages for real? Of course, the analysis of quantitative data should be aware that the volume of loans are rising. This is evidenced by reports of some banks as well as the message "HMLA". But the aggregate data collected not just because Not all banks are working with AHML, and the time taken to receive the data on each bank, can be calculated for months. Even if the FRS to agree when to report data on mortgage amounts, to operate these figures are unlikely to be possible, as all sales transactions conducted through the cell. A sum in the cells are clearly superior to those indicated in the documents. "The main reason for this can be called a global liquidity crisis when Russian banks, heavily dependent on foreign funding, have closed their mortgage programs and went to the Moscow of the mortgage market", - said Head of Retail Lending Bank "MIA" Igor Nagorskii. The result was a redistribution of the market, which confirms the growth of loans from some banks, and negative growth in others, continues to argue it. I. Nagorskii noted an increase in activity of banks in the regions: the big banks, especially those with a wide range of services and a regional network of more active than in Moscow, sell their mortgage products in the regions. "At the same time as the big players show good momentum in Moscow / URALSIB, KIT Finance, Bank of Moscow / and a marked decline in sales, which showed BSGV, Sberbank, Moscommertsbank. Moscow secondary housing market is more interesting for smaller banks, which are important for minimizing credit risks while maintaining a high real estate prices, "says I. Nagorskii. Other market participants also associated redistribution of the shares not only with the impact of the global mortgage crisis, but also to the fact that banks have flocked to the region. "We expect the volume of mortgages on the secondary market in the whole of Russia in 2007 increased by about half. This trend will continue in the current year," predicts the vice president of business development DeltaCredit Dinara Yunusov. Reduction of mortgage loans is only at certain banks, which is balanced by an increase in loan portfolios in others, focuses D. Yunusov. Therefore, in general, lending is not reduced, it comes to a conclusion. According to the Head of Department mortgage GC "MIC" / Moscow Mortgage Center / Shibetskogo Constantine, it is not about reducing the amount of mortgage loans and a decline in growth rates. "All right, he says - because the dynamics of growth is projected by analysts and - in 2008 the growth rate of mortgages issued are reduced by several factors." First, the discrepancy between the increasing cost of housing for middle-income population. Secondly, the dynamics of growth in the number of mortgages Russia is characterized by developing mortgage markets. Slower growth predicted by analysts in advance. Analysts predict the growth of mortgages in Russia in 2008 is expected in the range of 30-50 per cent of the number of loans issued in 2007, in turn, I. Nagorskii draws attention to the following factors that determined the development of Russian mortgage last year, the liquidity crisis affected and on the choice of currency loans, in which a greater preference for loans in Russian Roubles. A considerable role was played here as the saturation of the mortgage market, increasing interest rates and house price growth in lagging behind the growth of income level. The banks include mechanisms for compensation of losses in the amount of granted loans by offering customers flexible credit terms, such as an individual approach when considering the borrower's income level and increasing the maximum loan amount, says the domestic banking "kitchen" I. Nagorskii. Residential real estate market in 2007 continued to stagnate. Many want to buy an apartment on credit expect lower prices and rates, and therefore delayed the purchase of real estate. However, in the second half the situation changed. According to the Head of Public Relations IB "Fosborn Home" Yulia Polyakova, due to liquidity problems, banks began to raise rates, tightened underwriting, significantly increased the time for consideration of applications, real estate prices began to slowly creep up / fall 2007 - on 2.1 percent per month /, and these potential borrowers understand what more to expect dangerous - you may lose money. They are afraid that prices and mortgage rates rise again, so in the second half began to throw away their life savings on the mortgage market. Since the autumn began redistribution of shares of the mortgage market participants. Those who have recently been active players in this market, reduce the level of grant or withdraw from the market in general, and at the same time there are new players that have not previously exhibited proper activity, presented his views on developments in the mortgage market in the past was added, Y. Polyakova. Experts' opinions on the trends that will shape Russia's mortgage in the next year, were divided. General Director of "FA" Respect-Mortgage "believes that the 2008 growth rate of mortgage lending is likely slow down. In 2008, the level of initial payment will increase, and increased rates of between 0.5 and 2 per cent per annum in the first months of 2008 Further, the situation will depend on the development of highly probable next wave of liquidity crisis. Managing Partner at Blackwood Kovalev also predicts continued downward trend of mortgage loans in 2008, just as in America. To a greater extent in the reduction of credit mortgage may affect this stricter requirements for borrowers. It should be noted that the number wishing to buy only a real estate loan in the secondary market remained the same, moreover, the number of borrowers seeking mortgage loans in dollars rose as it became profitable. Yunusov J. confident at all that the mortgage market in Russia "is experiencing a" golden age and now is only at the very beginning of its development. Therefore, increasing rapidly - a trend that will continue in 2008, due to the existence of a huge unmet demand for improvement housing, she said. Watching as experts in their commentary gradually moved away from the quantitative data, we can doubt the definition of the situation in the mortgage market as a golden age. One thing is clear - the volume of loans can only grow so that housing becomes more expensive. The number of citizens who may enter the housing market is reduced.
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