When new schemes for bypassing regulation by developers appear, the Bank of Russia will offer to clearly formulate acceptable options by law. This was pointed out by the Chairman of the Central Bank Elvira Nabiullina during a press conference following the meeting of the Board of Directors of the regulator.
The Central Bank is observing the emergence of new schemes for developers with cashback when applying for a mortgage, Nabiullina noted earlier. According to her, the regulator intends to counter the growth of such schemes with regulatory measures, and if this does not help, it will insist on their legislative ban.
In December 2022, the Central Bank called for the curtailment of mortgage programs from developers, as they are associated with an increase in housing prices.
Over the past year, the average area of housing in Moscow new buildings has decreased from 58 to 54 “squares”. According to experts, the trend will continue in 2023. INFOX.