A collapse in property prices in Russia - or not to be

Nedvizhimost13-10-2008 collapse of property prices in Russia - or may not be the real estate market meltdown in Russia - this debate, this waiting, this fear. Whatever it was, but now the price per square meters are under the greatest pressure than it has ever been since the collapse of the Soviet Union. Bankers believe the inevitable collapse of prices and adjust their strategy in response to this factor, as market players are on their - a significant drop in prices they will try to avoid it. While the experts argue, the representatives of the banking sector, is actively working in the mortgage sector, looking at the fall in prices, as inevitable. RosEvroBank "could not stand the first sending out many of his clients mortgage letter offering to pay 30% of their loan until 15 November 2008. The main reason for the request, representatives of the bank called the coming collapse in housing prices. Such developments would reduce the value of collateral on the loan. And in this case the bank would simply must, in accordance with the instructions of the Central Bank to take measures to offset the devaluation of mortgage borrowers. Moreover, if borrowers do not prove sufficient material resources, they pledged assets at risk to go under the hammer.