Mortgages on the rise

Specialists studied the mortgage market in the first half of 2010 and came to surprising conclusions. Experts Moscow agency «Penny Lane Realty» identified a number of positive trends. The Government set a target to lower rates on loans up to 10-11% per annum, and in two decades - and does make mortgages available to 60% of the population. Planned allocation of 250 billion rubles for the issue of concessional loans. The market was excited. Over the last six months mortgage rates have been reduced by 1,5-2%, reaching 15-16% in rubles and 12-13% in foreign currency. It felt and people, reaching to the banks for advice - their activity increased by 30% and the increase in real transactions added nearly 10%. If the positive trend will continue, the authorities promised 10-11% can be achieved as early as next year. However, less optimistic conclusions from the experts Rosgosstrakh, which calculated that to buy an apartment the family must earn no less than 230 thousand rubles a month - that it seems almost unreal at first glance. 12% of Muscovites already have cherished the sum to buy a home.