People who are considering moving or who have not settled their job and family plans should avoid buying an apartment and stick to renting, according to Alexander Aksenenko, deputy chairman of the State Duma Committee on Construction and Housing and Communal Services.
Speaking in an interview with Russian news outlet Gazeta.Ru, Aksenenko said that purchasing a residential property must be fully justified rather than based on attempts to speculate on market movements. He stressed that prospective buyers should focus strictly on their personal finances and family needs rather than trying to guess where property prices are headed.
Buying an apartment is appropriate if a person intends to reside in one location for many years, has a family, holds enough money for an initial down payment, and retains a financial cushion, Aksenenko noted. Conversely, if relocation cannot be ruled out due to work or personal reasons, renting remains the preferable option, especially when a monthly mortgage payment would absorb most of a household's income. The deputy emphasized that the main goal for any family must be improving its living standard rather than shouldering an excessive debt load.
Mortgage rates and down payment impact
Aksenenko noted that the choice between renting and buying a home next year will depend heavily on the cost of mortgage credit. The parliamentarian predicted that market mortgage interest rates could approach 15 to 16 percent per annum by the end of this year, adding that the downward trend in rates is expected to continue in 2027.
In evaluating household affordability, Aksenenko stated that the size of the initial down payment matters just as much to a family budget as the mortgage rate itself. He explained that minimizing the total loan amount ensures that monthly financial obligations remain far more manageable and predictable over the long term.
Legislative oversight and housing market dynamics
Aksenenko serves as deputy chairman of the State Duma Committee on Construction and Housing and Communal Services, a legislative body within the lower house of the Russian parliament that shapes housing policy, urban infrastructure laws, and property regulations. Parliamentary committees in Moscow frequently issue guidance on personal finance and real estate, where interest rate fluctuations and banking terms directly influence residential purchasing power.
Gazeta.Ru, the Moscow news publication that conducted the interview, is one of Russia's major digital news outlets, covering national political developments, economic trends, and real estate market analysis.
The guidance regarding home purchases follows previous advice cautioning Russian tenants against moving into rented accommodation during the autumn. Real estate commentators previously noted that entering into a rental contract in August or September is disadvantageous for tenants due to a seasonal surge in rental prices across major cities during the late summer and early fall.
