An expert has named the danger posed by the “overheated” real estate market.
Apartments may become much cheaper due to the fall in mortgage demand. This will hit at least one category of borrowers.
Real estate market expert Alexey Krichevsky spoke in more detail about the unobvious danger, writes Prime .
Prices for apartments in the Russian Federation have been falling in recent months. At the same time, up to 10% can be deducted from the price indicated in the ads. Sellers agree to bargain, the expert noted.
Against this background, a dangerous situation is developing for some borrowers. Speculators and people who bought an apartment using credit funds are at great risk.
Krichevsky noted that the scenario in which a person is left without real estate and with debt is quite realistic.
For example, a borrower pays a loan for several years, but then decides to sell the apartment. Given the price reduction, the transaction may not cover the amount of the debt, i.e. the person will still have to pay some part to the creditor even after selling the apartment.
This also applies to new buildings, because the resale of housing built under a shared construction agreement (DDU) is related to the secondary market. But, of course, the "age" of the building in which the housing is sold will be taken into account.
Krichevsky added that in the foreseeable future, real estate will continue to become cheaper because “mortgages are deflating” and non-credit demand is at a low level.
