Институты коллективных жилищных сбережений

Institutions of Collective Housing Savings

Victor Polterovich, Dmitry Ilinskiy, Igor Boltonosov, Oleg Starkov, Artem Tutundzhyan and Alina Zhikhareva
Authors registered in the RePEc Author Service: Виктор Меерович Полтерович

MPRA Paper from University Library of Munich, Germany

Abstract: Modern Russian bank mortgages are not widely available to low- and middle-income households due to the high cost of housing, high interest rates and strict requirements for borrowers. There are reasons to believe that the solvent demand for mortgage loans may be increased through the development of collective savings institutions and cooperatives, such as сontractual savings for housing (Bausparkassen), housing savings accounts, housing savings and housing building cooperatives. This study analyzes foreign and domestic experience of their formation and functioning. It is shown that in the current Russian conditions, Bausparkassen and housing savings accounts are the most promising institution providing accumulation of savings of the general public for the purchase of housing. It is advisable to develop corporate programs to help employees to purchase housing, and combine them with savings and loan programs. Recommendations have been developed to improve legislation aimed at establishing and improving collective savings institutions. The book is based on the research conducted under the state contract No. GK 17/235 dated November 13, 2017. "Improvement of legislative regulation in order to increase the affordability of the population's own housing, including the development of mortgage lending mechanisms, сontractual savings for housing, share building, housing building cooperatives.

Keywords: mortgage; collective savings; сontractual savings for housing (Bausparkassen); housing savings accounts; cooperatives; share building (search for similar items in EconPapers)
JEL-codes: D02 D14 G21 (search for similar items in EconPapers)
Date: 2019-06-06
New Economics Papers: this item is included in nep-cis, nep-tra and nep-ure
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