Subsidizing mortgage rates helping the market, but at this rate I bought the people who was going to buy a house , they just refused this, said the General Director of consulting company MACON Ilya Volodko. “If it is renewed after November 1, of such values, it have not” – he said, adding that many Russians do not have money even for a down payment (nearly 40% of mortgage holders are making the minimum contribution of 20%, even 40% of customers – up to 30%).

According to him, the decline of incomes observed in 2014, had not too much influence the real estate market, as offset by lower mortgage rates. However, with the end of 2018, when it became clear that soon developers will have to switch to project financing, prices in the primary market increased by 20%. The decline in mortgage rates has not been able to compensate for this substantial increase in prices, said Volodko.

From 2010 to 2019 prices on the primary housing market rose by 39.3%, said a member of the Board of the Russian Union of builders Evgeny Ivakin. The cause is the rising cost of housing due to the cost of building materials, connections to networks, increasing the wage Fund.

Now it would be worthwhile to reconsider the targets of the national project “Housing and the urban environment,” says Volodko. In his opinion, if every year to build 120 million square meters of housing (as planned in the project by 2024), it is necessary to sell 35-40 thousand rubles for “square”, and for that money you can build only a very poor quality housing. Stable and well build, says Volodko, at 70-85 million square meters per year. “This is a good volume which allows the market to exist – and developers, and consumers. It is likely to meet the current level of demand,” he said.

Expect a reduction in market housing prices, according to experts, it is not necessary: the demand in the near future will fall, but fall and the volume of construction, so changes should be expected.

According to the conference participants, to support housing construction it is necessary that the government established the conditions under which developers would want to create and develop new territory, and not to engage in point buildings, loading existing utilities and uploading the road. Required reducing the cost of connection to engineering networks, the early disclosure of escrow accounts, more relaxed credit conditions and a more relaxed attitude to developers with the regulatory authorities. Also, developers would like the assistance of authorities in the development of low-rise construction, especially that the interest of buyers for such housing are quite high.