We are all waiting for the rate cut, as the share of market mortgages has dropped to a historic low - Husnullin

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In Russia, over the next few years, a high interest rate is expected to lead to a decrease in housing supply, which could result in rising prices. According to Deputy Prime Minister Marat Khusnullin, the solution to this problem would be a reduction in the interest rate.

"We are all waiting for a reduction in the interest rate, because the share of market mortgages has fallen to a historical minimum. Fewer permits have been issued, and in 2028-2029, the volume of housing supply may decline. When supply falls, prices rise. We are very much looking forward to this decision and hope that it will be positive for the country," TASS quotes Khusnullin as saying.