In Russian megacities, the initial mortgage payment has reached almost 80%

11:24; 27 December 2024 year

Residents of Russian megacities will have to save from 53.7% to 77.4% of its value to buy an apartment in a new building with a mortgage. This is reported by RBC.

In their calculations, the analysts relied on data on the cost of an average one-room apartment in cities with millions of residents, data on average accrued salaries, as well as the conditions of banks providing mortgage loans. Based on this, we determined the minimum initial payment at which banks will approve a mortgage loan for borrowers.

The most critical situation is developing for the residents of Kazan. In order to take out a one-bedroom mortgage for 20 years, they must save up 77.4% of its value for the initial payment. Thus, the average market mortgage rate is 29%. The average salary received in Kazan is 67 thousand rubles. Banks expect that borrowers will spend no more than 50% of their regular income on mortgage servicing. It turns out that with the current rate, they will be approved on credit for only 2 million rubles, whereas the average cost of a one-bedroom apartment here is 9.1 million rubles. To purchase it, the average Kazan citizen will need to save more than 7 million rubles for an initial payment.

Residents of Nizhny Novgorod, Volgograd, St. Petersburg, Moscow, Krasnodar, Rostov-on-Don, and Chelyabinsk found themselves in a similar situation.

Voronezh residents with an average cost of 5.3 million rubles and an average salary of 54 thousand rubles will need to make 68.7% of the cost of housing as a down payment.

The situation is the most optimistic among the 16 Russian cities with a population of one million in Krasnoyarsk. There you will have to save only 53% of the cost of the apartment. The price of a square here is 5.1 million rubles, and the average salary is 77 thousand rubles.

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