OREANDA-NEWS   The revival of the mortgage market will directly boost demand for ready-made housing in Russia. 

The gradual reduction of the key interest rate by the Bank of Russia may be a kind of signal for the revival of market mortgages, the expert believes. "A significant reduction in the gap between preferential and market rates is expected. Demand for market-based lending programs, without subsidies, will return. Those categories of citizens who are not eligible for subsidy programs will start to become interested in mortgages," Lessard predicted. As a result, it will resume demand in the ready-made housing market, she is sure.

Earlier, Evgenia Uvarkina, a member of the Federation Council Committee on Budget and Financial Markets, predicted that mortgage conditions in Russia would improve for borrowers in the next one to two years. She advised Russians who do not fall under preferential programs to wait for a rate cut and save up money instead of taking out a loan now at 20 percent per annum.