Mortgage program in a segment of the suburban real estate while poorly developed. Banks fear mortgage program to display on this market. The number of mortgage loans to purchase real estate in the country is insignificant, especially in the urban background volumes. According to experts, banks lend no more than 10-15% of all suburban property. The reasons for the low interest is the fact that a large proportion of developers do not have much experience in this market, their credit history is of short duration, and number of items sold in a suburban segment is small. Problem market key problems hindering the growth of mortgage-town sites, the experts referred to as: the lack of urban planning documentation in the settlements of the Leningrad Region, the lack of documents on the ground (a large part of developers to begin construction without having the permission to build), inability to determine the integrity of the builder , the inability to adequately evaluate the object. For a loan to the bank to adequately evaluate property. In the country market assessment is compounded by the land and the individual characteristics of each object (example: even from a methodological point of view, the evaluation of the apartment is only using a comparative approach, evaluation of home with the land - and the comparative cost-based). Difficult to assess the liquidity facility and country risks associated with incorrect assessment of these parameters. The result of these problems is the fact that more than 120 cottage villages today credited with no more than 15%. Lending conditions in the market today, cottage settlements, there are two basic schemes of mortgage lending. This may be a joint investment bank and the developer - it invests in the construction of the facility and offers a program of mortgage lending (example: "Watchdog Mountain" and "Investtradebank"). Another option - the project is accredited by the bank. Examples: "Pawlowski low-rise ensemble" and "Eurofinance-Mosnarbank", "South Beach" and "Savings" bank "EEFC"; projects "Petersburg Garden Ring" ("Sweet Home", "Forest Villa", "Spruce House") and "VTB 24", "Savings Bank", "Bank" Saint Petersburg "," Bank "Revival", "Basheconombank." The term of the loan can range from one to 30 years. The initial fee varies between 10-80%. The average size of an initial payment of 30%. Rates on ruble loans - 11,7-16% per year, rates on loans in dollars - 10,4-14,99% per year. Interest rate depends on several conditions: duration of the loan, the amount of proof of income, etc. The banks impose strict requirements for collateral. The house must be suitable for year-round. It should be electric, water, heating and sewage systems. Transport accessibility should also be a year-round. Purpose of land, respectively - individual housing or, at least, country house construction. Banks are interested in seeing the object was liquid. Accordingly, the old buildings, or objects, which they consider unreliable, are not considered. Portrait of a borrower According to experts, only a tenth of the cottages are buyers mortgage. About 30% of shoppers are guided by home economy class ($ 200-300 million). Approximately 29% of people buy a vacation home for a permanent, 24% - for a temporary, 22% - to a mixed residence. Every fourth customer is considering a deal as a profitable investment of surplus funds. The size of loans - 70-80%. At the same time the average monthly income consumers should not be less than $ 2 thousand per family, subject to credit and to attract at least $ 5tys. without credit. Consumer preferences for geographic location of the village are as follows: Vsevolozhsk district - 20.9%, resort area of St. Petersburg and Vyborg of Leningrad region - 14%, Gatchina - 9.3%. Among the buyers of the most popular villas ranging from 150 to 250 sq.m. But the house is often chosen smaller area because of its more successful architectural and design solution. Townhouses on the preferred footage - 110-200 sq.m. The greatest number of requests received for land and 16-20 acres 21-30 acres (30% and 27% respectively). More than 50% of St. Petersburg prefer suburban real estate of aerated concrete. Mostly residents of suburban houses would like to see on your site and the surrounding pine trees to the site ponds with sandy beaches. Forecast growth - rates experts believe that banks will become increasingly suburban real estate lending only if the consequences will be overcome the mortgage crisis in America and the rates will again seek to decrease, rather than upward, as it does now. All the banks will help to increase the liquidity of country objects, the growth of the suburban real estate market. Market experts predict an increase in interest rates on loans. Increase in rates comes amid the ongoing global mortgage crisis. According to experts, despite the fact that suburban real estate market remains a "zone of risk" for banks, its further development has good prospects. Mortgage lending in high demand in the economy class and middle, forcing developers to actively negotiate with the banks, and thus try to improve the legal status of land (the transparency of documents) in the initial phase of sales. The interest of banks to the country market and increasing competition spurs the city market, the need for new segments. Competition among banks continues to grow - it is possible that their requirements for such properties will be mitigated. Ignoring the suburban market, banks are now at risk of losing some customers. According to Vitaly Demidov, St. Petersburg branch manager "Absolut Bank" The main problems stem from the fact that the land market in the Leningrad region have not yet fully formed. Due to the complexity of the technical procedures of registration of land ownership, construction of cottage settlements often begins long before the formalization of land ownership. This, in turn, puts an end to attract mortgage customers in the cottage. In the secondary market the situation is not better. According to statistics, at present no more than 10% of land are properly executed documents. And without such land can not be a subject of the pledge. In addition, banks lend at sites earmarked for individual housing construction, while most of the plots so far relates to agricultural land and horticultural purposes. Opinion Vyacheslav Mikhailov, director of mortgage lending branch "Bank Saint Petersburg" Alfa-Bank "One reason for the weak development of the mortgage on the country market is a small amount of cottage communities in the primary market, suitable for lending. If, say, two years ago, they were one, now there are dozens of them. A large percentage of developers do not have much experience in this market is short-lived credit history and sells a small number of objects. Another factor in the development of low-intensity suburban real estate mortgages - Real estate companies are still not sufficiently powerful to run the country market, compared with the same urban segment. For banks, it is also important because real estate companies, brokerage firms are the main partners of banks in attracting customers. In this case, the customer always comes to the bank is ready, and the bank's customer is a gift, as significantly reduced costs. Opinion Konstantin Volkov, an expert center Property Insurance SC "Russian World" Rising prices for Urban Real Estate forcing buyers to pay more attention to the suburban real estate. The demand for holiday homes and cottages warms considerably increased availability of mortgage lending. Recently, the most actively insured new and expensive housing. If a country house (cottage) is purchased with the assistance of credit, there is a duty to insure the property as collateral. In the future we expect the growth of insurance market in the country real estate in accordance with the general increase in property insurance market and the increasing number of owners of suburban property. At the same time with great confidence we can say that the growth of the insurance market-town real estate will outpace growth in the rest of the property insurance market. Voluntary insurance is more suburban buildings claimed by citizens due to the fact that the probability of damage to or destruction of buildings higher than an apartment. The main feature of the Russian insurance market is the most inexpensive nedostrahovanie insured structures, ie, they are insured for amounts that are far below the real value of these objects. Assessment of the value of suburban property insurance is usually more time-consuming and often requires the use of an independent appraisal of the organization. According to Natalia Khmelnytsky, director of large plots of land of "ARIN" The number of loans issued for the acquisition of suburban housing remains low. However, each year the number of credits increases. For example, if last year only a few houses could be bought with a mortgage, but today their number has increased almost threefold. So, clearly there is a tendency to attract banks with large-scale projects in the region (eg, "Yanino"). Here, the share of transactions involving a mortgage loan up to 40%. If we are talking about buying a cottage in a small village, the banks, unfortunately, are wary of borrowers. And since the security situation in the given plot of land, which is considered to be illiquid commodity, the stake may be higher by 1-3% compared to the city. Reduce the interest rate can, for example, paying bail urban apartment. Sergei Bobashev opinion, principal analyst at GC "Bulletin of Real Estate" in the first half of this year in the country market a new product - a large low-rise complex economy-class "New Izhora". A very loyal customer acceptance of such product in the market, said that the segment is open and unclaimed. Most likely in the near future the market will come new, similar projects. In segments of the business elite and starts to feel the competition between what is constructed, and what has already been built. In other words formed by the secondary market of cottage settlements. At the same time talking about significant shifts in the market houses it is not necessary. Lending to grow, but only slightly, to massive demand for mortgages on vacation homes - far away. Banks are much easier to negotiate with major developers, to work with the City project, where everything is transparent, understandable legal issues. Rural market is still considered by banks as risky. Opinion Marianne Belkova, head of mortgage management of JSC "Baltic Mortgage Corporation» Mortgage for cottage construction market, failing to appear is likely to suspend. The suspension is likely to happen behind the scenes, mortgage programs simply will not be accessible to customers. After all, we can already say with certainty that in September, most banks significantly raise interest rates on loans. This is due to lack of funds in banks, in addition, financial inflation is high, and banks simply unprofitable to lend at lower than 13-14% per annum in rubles. So in September, probably, many financial companies raise rates by 1-2 percent or more. It is possible that significantly tightened requirements for both the borrower and the subject of the pledge. In the mortgage market trend of cottage settlements is likely to be even more noticeable. After all, suburban mortgage launched recently, not had time to grow stronger and develop approaches to the evaluation of the collateral, the construction company. The banks before the crisis had many questions when lending to suburban sites, such as how to assess the reliability of developers, most of which are small, newly emerging companies. Big problem is lack of documentation on the housing estate cadastre plans for each separate area of the house - usually only the inventory of the land of the village. Often the mortgage is not possible due to improper titling of land, low-quality cottage or its finish. Great importance in assessing the collateral in the country market are utilities and social infrastructure, which often do not meet the wishes of the banks. Julia Nigula opinion, the deputy head of the department of marketing a country of "Petersburg Real Estate" Tighter credit conditions affected the entire mortgage market, not to mention just about out of the city. And out of the city are reluctant to lend and to banking crisis. It is obvious that the banks are in no hurry to develop the countryside lending. This is easily explained - when there is a queue of about a dozen standard urban trades - no problem to the options, what are mostly low-rise construction sites country. If the suburban market is transparent, then, of course, mortgages would go up the hill. Most often, developers start to build residential developments on land that does not have the status of individual housing, as intended under the dacha construction (on agricultural land) or land in the translation process. This situation greatly hinders the development of suburban mortgage segment. The demand for suburban mortgages at this time is saved, it can be expected to reduce due to the seasonality of demand (for the fall and winter), and not due to tightening of credit conditions. Opinion Constantine Novikov, head of the lending company Village Consulting Most facilities now being built on agricultural land and have problems with accreditation in the bank. By law, subject to a mortgage is land and standing at her cottage. In this case, the object bank can not impose a burden on a particular plot of land, since it formally, but there is a single territory of building a cottage village. At the time of construction of the cottage settlement, where the buyer takes out a loan, even if carried out surveying the land and vacant sites inventory numbers, they are not registered in the FRS. Registration of objects will be carried out only when all the houses will be built and the village will be completed. Magazine "The World & Dom.Sankt Petersburg" http://www.miridom
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