The Ministry of Finance proposed to increase housing affordability through leasing
The Ministry of Finance has presented a new draft strategy for the development of the financial market until 2030. It also included a plan to finalize the mechanism for the phased acquisition of real estate from the landlord.
It is assumed that for registration of leasing transactions, it will be enough for citizens to contact a leasing company.
It is noted that agencies specializing in such services will be able to conduct, for example, a preliminary assessment of both the real estate itself and the financial capabilities of their clients. By the way, today it is often easier to get a lease than to take out a mortgage in a bank. But there are also disadvantages. Since the real estate itself is in the possession of the owner for the period of payments, if the latter has legal problems, then the housing may be under arrest.
Additionally, it should be taken into account that there is no automatic transfer of real estate into ownership when concluding a leasing agreement.
According to independent experts, leasing is a less affordable way to purchase real estate than a mortgage with state support. It is possible to push the latter on the market only if the development companies themselves become leasing companies, and interest rates will be consistently lower than mortgage rates.
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