Central bank sees speculative demand for mortgages, price rise

MOSCOW, Dec 8 (PRIME) -- Several Russian regions see speculative demand for mortgages, which spurs up price growth, Chairwoman of the Central Bank Elvira Nabiullina told the Federation Council, the supreme chamber of the parliament, on Tuesday.

"As we see, mortgage demand is taking on the traits of speculative demand and leads to unjustified growth of prices in some regions, which means that construction companies and banks benefit from the incentive rather than people,” Nabiullina said.

“It is good to support them but it is important that our key task is affordability of housing."

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