Marat Aizatullin held a meeting on topical issues of the housing market
The Ministry of Construction of the Republic of Tatarstan held a discussion on topical issues of the housing market. The meeting in videoconference mode with all municipal districts was held by the Minister of Construction, Architecture and Housing of the Republic of Tatarstan Marat Aizatullin. It was also attended by the heads and representatives of leading banks and developers.
Ilshat Gimaev, Deputy Minister of Construction, Architecture and Housing of the Republic of Tatarstan, gave information on the housing market of the Republic of Tatarstan. "To date, 2,796,8 thousand square meters of housing have been commissioned. The existing potential allows us to predict the possibility of meeting the targets set for us by the Ministry of Construction of the Russian Federation in the future," he said.
Since July of this year, there has been a drop in the volume of home sales and the number of mortgage loans. According to the Central Bank, for 7 months of this year, the number of mortgage loans decreased by 9% compared to the same period last year. Under equity agreements, the number of mortgage loans issued increased by 10.3%.
Since July 2023, the key rate of the Central Bank of the Russian Federation has been increased 7 times. The growth was more than 2.5 times from 7.5% to 19% per annum.
According to Ilshat Gimaev, the consequences of these factors were a decrease in the purchasing power of the population, a decrease in the volume and number of mortgage loans issued in the primary and secondary housing markets, etc.
Representatives of banks and developers also made presentations. The topic of discussion was the situation with sales and project financing after the cancellation of preferential mortgages, the problems of launching new residential projects, as well as the search for new tools to stimulate the housing market.