The share of installments in the primary market decreased by 2.2 times

The share of installments for the purchase of apartments in new buildings has decreased 2.2 times since the beginning of the year from 29.9% to 13.6%, the federal company "Floors" told Izvestia.

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Analysts predict that the trend will continue, but the Central Bank believes that anti-crisis measures are not needed.

"In January of this year, the share of installments in the primary market reached its peak and has been steadily declining over the past few months. If in January their share was at the level of 29.9%, then in February it decreased to 20%, in March — to 17%, in April — to 14%, and in May it is 13.6%," said Tatyana Reshetnikova, deputy head of the mortgage department of the federal company Etagi.

The expert attributes the decrease in the share of installments, including the abolition of commissions for granting preferential loans by the largest banks, mortgages have become more profitable for developers. In addition, developers have begun to limit the use of installments in sales due to the risks that the period of unavailable mortgages will last longer than initially predicted, and conditions for family mortgages may change or approval may decrease. As a result, installment agreements will either have to be terminated and the funds returned to the shareholders, or they will have to look for ways to prolong them after the house is put into operation.

Both scenarios create additional risks for developers' financial models.

Read more in the exclusive Izvestia article:

Percentage point: developers massively refuse installment payments for housing