Financial News and Economical Crisis

Information Unit (part of the investment holding company “Finam”) held a conference “Real Estate 2010: another year of stagnation?”. Its members believe that the improvement in the economy and public policy to reduce the cost of credit will reflect positively on the availability of mortgages. However, the risks of long-term solvency of borrowers will prevent appreciable reduction in mortgage rates, which would require the Government to increase pressure on banks.

In 2009, the housing market in Moscow about 15-17% of the total volume of transactions was carried out with the use of mortgage lending, notes CEO of IAA real estate market RWAY Alexander specks. However, he estimated that the main recipients of mortgage loans are the budgetary employees. “The highest representatives of the federal government made the declaration that the mortgage rates in Russia will soon 6-7% per annum, - says Mr. specks. - This is the near future will come when the most attractive investment and construction markets will be captured strong players at the federal level. ”

reducing mortgage rates well within the general policy of the government to improve the availability of credit, says head of corporate analysis Petrocommerce “Evgeny Dorofeev. He believes that the reduction in mortgage rates to levels designated by the Government is unlikely to occur without the administrative and regulatory pressure on banks, as these levels do not take into account the risks of reducing the solvency of borrowers in the long term lending. “The principle of diversification of risks in the mortgage market is doing badly, that proved the crisis of mortgage agencies, primarily the United States. Thus, the issue is the willingness of the state AHML buy mortgages on the respective rates of return, ie, to assume the risk without proper appears , Prize, - said Mr. Dorofeev.

On the background of some improvement in liquidity conditions and the normalization of the situation in the financial sector, many lending institutions, primarilydedwith state participation, has now stepped up its policy in the area of mortgage lending, which allows you to rely on improvements in this area in 2010, Analyst predicts UK “Finam Management” Maxim Klyagin. He said: “The State shall actively funds the banking system, in turn, stimulates the various methods of banking organizations to reinvest funds in the real sector, as well as to expand lending to the population, including those in the mortgage sector, to support the construction sector. In particular, According to preliminary forecasts AHML, in the current year is likely to reduce rates to 13%. The agency did not rule out that recover and reach pre-crisis level of mortgage lending will be able in 2011.

Department of Public Relations and Media Investment Holding Finam.
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