During the ongoing crisis, it is mortgage crediting with subsidized bank rates and state support programs that should save the national construction industry.
However, many experts consider that current state support may give only a momentary effect. In January – April 2016, the total sum of mortgage credits issued in the Krasnodar region amounted to 11 billion rubles, or 30% more than during the same period last year. However, there are no grounds for any euphoria: the current growth of the figures has been caused by the so-called low rates effect – and the prospects for the mortgage market are bleak.
Current trends include the rise in the price of construction materials, and scarcity of financial resources for the construction companies. According to some construction developers, although the banks are earning on mortgage credits, they are reluctant to provide the constructors with long-term credits.
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