Authors: V.S. Sviridenko, D.M. Khloptsov

Title of the article: Impact of mortgage programs and the key interest rate on typical human behavior in real estate investments by age categories

Year: 2023, Issue: 1, Pages: 50-59

Branch of knowledge: 5.2.1 Economics

Index UDK: 332.72

DOI: 10.26730/2587-5574-2023-1-50-59

Abstract: The paper is devoted to the analysis of the behavioral characteristics of various categories of citizens when making investment and financial decisions in the field of real estate transactions. Initially, an analysis was carried out and a breakdown of citizens into groups according to the following criteria: age, social status, income. For each of the selected groups in modern economic realities, given the cost of housing, the acquisition of real estate is most often carried out with the help of borrowed funds. The main tool for such decisions is mortgage lending, the main advantages of which are: the possibility of obtaining a large loan amount, low interest rate, long-term lending. Mortgage loans received the most active growth and development in Russia in 2020, which is associated with the easing of the state’s monetary policy and the already existing wide range of preferential government programs, especially for families with children. The result was a 50% growth in the mortgage portfolio in annual terms. However, the short-term result, aimed at supporting the construction sector on the one hand and solving the problem of providing citizens with housing on the other, led to a sharp increase in prices in the real estate market, an increase in the monthly payment and the term of the loan itself. Thus, the main goal of the work is to determine the impact of basic and preferential mortgage programs on the behavior of the population in the field of acquiring real estate as an investment, saving money or for personal needs.

Key words: mortgage real estate behavioral economics mortgage rate mortgage lending market housing investments government support for mortgages

Receiving date: 06.02.2023

Approval date: 20.03.2023

Publication date: 04.05.2023

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