OREANDA-NEWS Russians began to buy apartments with mortgages more often: in 2023, the share of real estate purchased "for cash" decreased by 4 percentage points to 20%, according to a study by the investment company in the real estate market Flip, which RIA Novosti has.

"In 2023, only 20% of apartments were purchased without using mortgage programs. It is worth noting that a year earlier their share was 4 percentage points higher and reached 24%," the analysts noted.
Evgeny Shavnev, CEO of the company, explains the decrease in the share of apartments bought "for cash" by the fact that, on the one hand, there was an increase in prices for real estate objects - on average by 5-15%, depending on the region. On the other hand, the vast majority of Russians (70%) consider real estate to be one of the most reliable investment tools, but 90% of Russians who plan to buy for this purpose do not have enough money to purchase it.

The average cost of an apartment purchased without a mortgage in 2023 was 11.5 million rubles, the company said. At the same time, the average mortgage loan in 2023 was at the level of 4 million rubles with an initial payment of about 30%. Thus, the cost of a mortgage apartment is in the range of 5-5.5 million rubles.