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Russians have come up with an unusual way to buy housing amid expensive mortgages
According to him, in the context of incredibly high mortgage rates on the market and the tightening of conditions for obtaining housing loans, Russians are increasingly resorting to joint purchases of apartments, Izvestia writes.
As experts explain, buying a home together is especially important for people who qualify for a prime mortgage but don't have enough money for a down payment.
These are the buyers who are looking for wealthier partners among those who don't qualify for the various remaining incentive programs. They agree to split the money in the future and either sell the house or buy a share.
According to experts, Russians are using this unusual method to solve the problem of saving money for their first home in the context of expensive housing loans, the interest rates on which in Russian banks exceed 20% per annum.
According to Zhalnin, citizens should look for such non-trivial schemes for acquiring real estate. Moreover, he believes that this trend will continue to strengthen as interest rates rise and lending becomes tighter.