Tax deduction for legitimate lodgers. Nina Kozlova’s comment for Gudok.

Minstroy and Agency on Residential Mortgage are discussing the introduction of tax deduction for legitimate lodgers. The Ministry promises record low mortgage rates.

Nina Kozlova

the General Director of FinExpertiza

- The largest amount of mortgages were given in 2014 – it was RUB 1.75 trillion. In 2015 the amount of mortgages dropped by 35%. The reasons for the decline include lower oil prices, high inflation rate, devaluation of the Russian rouble, lower income of the population and a rise in key interest fr om 10.5% tо 17% per annum. Today interest rates are following inverse trends.

The national subsidy program for mortgage rates also helped revive the market, and in 2016 the amount of given mortgage loans was RUB 1.5 trillion. In 2017, the amount of given mortgage loans may be RUB 1.8 trillion, and the mortgage loan rates may decline to 11% and lower.