Avito Real Estate and Cian, the largest real estate verticals in Russia, have started a cooperation with Otkrytie Bank giving home buyers a reduction on their mortgage repayments. 

The new program will provide a discount of 0.6% points from the base mortgage rates for new buildings and properties on the secondary market. The discount will last until Nov. 30, inclusive.

“The new offer from Avito Real Estate and Otkrytie Bank covers most mortgage programs, including programs with state support. Whether you choose an apartment in a new building or an old building in Moscow or Vladivostok, you will be guaranteed a benefit of 0.6 percentage points from the bank’s regular mortgage rate on more than 1 million properties listed on our platform,” said Irina Byazarti, product director at Avito.

“The new service will support not only buyers but also sellers. Agencies, individuals, and developers will be able to sell their properties at Avito Real Estate faster, thanks to the favorable mortgage conditions that buyers receive.” 

“Mortgage rates are confidently returning to last year’s level. And under these conditions, Otkrytie Bank is making mortgages even more accessible to Russian families without limiting the choice of housing to be purchased. Increasing the availability of mortgages and the convenience of their registration is our priority,” said Nina Kryuchkova, vice president and leader of the mortgage department at Otkrytie Bank.

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