The expert assessed the consequences of stricter mortgage rules in the Russian Federation

The new macroprudential limits of the Bank of Russia (CBR), which will be introduced from the third quarter of 2026, are targeted and will affect only a small proportion of borrowers. Irina Pavlova, dynamic pricing analyst at BM Group Development, told Izvestia on May 14.

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Buyers and investors should carefully assess the risks and the actual terms of transactions.

"The Central Bank's restrictions primarily concern borrowers with a high debt burden and low down payment: in the first quarter of 2026, only 4% of mortgage loans were issued to borrowers with a marginal debt burden above 80%, and the share of loans with a down payment of no more than 20% was 1%. Thus, conditions will not change radically for the majority of buyers," the expert noted.

Some clients, she says, may be more actively considering installments from a developer, trade-in, or accumulating a higher down payment. At the same time, cooperatives and leases with the right to buy are unlikely to become widespread due to low legal transparency and lack of government regulation.

Developers will continue to offer installments, discounts, trade-in, individual payment schedules and point subsidization of rates, but the market will not see a massive return to risky schemes, predicted the editorial interlocutor.

"For the buyer, the most reliable thing is the transparent economics of the transaction: a real discount, an escrow account, and a clear payment schedule. A subsidized rate from a developer can be beneficial only if it is not compensated by an overestimation of the apartment price," Pavlova concluded.

Read more in the Izvestia article:

Tightening mortgages: how Russians adapt to the new rules of the Central Bank