Russians were told about the role of real estate in the economy

The real estate market can no longer be the only driver of economic development. To increase housing affordability, it is necessary to stimulate income growth and develop other industries. This was stated by Svetlana Zubkova, Associate Professor of the Department of Banking and Monetary Regulation at the Financial University under the Government of the Russian Federation, PhD in Economics, at the Izvestia News Center on September 4 during a press conference on "The autumn real estate market: forecasts and Reality."

"The real estate market is, in principle, a mirror of the overall economic situation in the country and economic activity. And at one time, a course was set for such a model, when the real estate market was positioned as a driver of economic development. And stimulating the real estate market through mortgage lending, through various programs, as expected, will lead to the development of the economy as a whole," she said.

As the expert noted, in the last few years it has been impossible to focus only on the real estate market as a driver of economic development. Consequently, the government should take measures to ensure the availability of housing and mortgages, not only through incentives through preferential programs, but also through the development of other sectors of the economy, which will lead to higher wages and allow citizens to improve their living conditions due to the overall development of the economy.

"From the point of view of accessibility, I agree that targeting needs to be increased. But if, for example, you look at foreign experience, then there are a lot of programs abroad that partially compensate for the cost of housing for professions that are particularly important from the point of view of the state and areas of economic development," Zubkova said.

She concluded that such measures could significantly expand opportunities for citizens.

Let's buy one, keep six in mind: the average overpayment on a market mortgage has exceeded 21 million

Why do people rent apartments even at a rate of 22% and when will real estate become more affordable

On August 28, financial market expert and economist Andrey Barkhota told Izvestia that secondary housing has fallen in price in a third of the country's regions. In the second quarter, the Central Bank recorded a decrease in the average price by 1 sq.m. m in 27 regions of the Russian Federation. The level of housing supply is sufficient to ensure that prices decrease rapidly in the face of a decrease in the number of mortgage transactions.

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