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Russia's government has spent around half a trillion rubles since 2020 to fund a program offering mortgages at rates as low as 8%. But that program has ushered a wave of Russians into the nation's real estate market, which has sent property prices soaring. Residential property prices in Russia rose to a fresh record in 2023, according to data from the Bank for International Settlements. AdvertisementRising property prices are largely attributed to increased housing demand over the past few years. The Bank of Russia also reported "signs of overheating" in the mortgage lending market late last year.
Persons: , Russia's, Elvira Nabiullina, Aleksei Kiselev, Kiselev Organizations: Service, Bloomberg, Business, Bank for International, Urban Economics, Bank of Russia, Bank of, Florence School of Banking, Finance, Inflation, Carnegie Endowment, Bank of Russia's Locations: shuttering, Russia, Russian, Bank of Russia
Russian President Vladimir Putin making a speech at the second Eurasian Economic Forum on May 24, 2023, in Moscow, Russia. In an interview with pro-Kremlin media published Tuesday, Putin laid out his vision for relations with the West, war and peace. 1) Russia 'technically' ready for nuclear warPutin was again keen to point out that Russia is ready for a nuclear war on a technical and military level. Nonetheless, Putin said Russia would be ready to conduct nuclear tests — if the U.S. did so. It's estimated that the war has cost Russia at least 315,000 dead and wounded troops during two years of war in Ukraine.
Persons: Vladimir Putin, Putin, Dmitry Kiselev, Mikhail Klimentyev, Ria Novosti, Rossiya, We've, Ukraine's, Joe Biden, Jens Stoltenberg, Volodymyr Zelenskyy, Ludovic Marin, Emmanuel Macron Organizations: Economic Forum, Getty, Kremlin, RIA Novosti, Ukraine Rossiya, It's, Afp, Ria, Russian Federation —, NATO, AFP, Ukraine Locations: Moscow, Russia, U.S, Ukraine, Crimea, Europe, Paris
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