Thus, during this period (2000 – 1-st half of 2003) occurred rising cost of housing within 300%. In the summer of 2003 in Vologda, appeared first mortgage programs, which allowed borrow sufficiently large amounts (up to 70% of the purchase price) on the long term (20 years). Until this moment the credit market allows us to use only consumer credit, having a size limit in the range of 3-month income that was approximately 20% of the average cost of a one-room apartment. The emergence of significant money on the real estate market and increase the number of potential buyers, the cost of 1 sq. m. for the 2 nd half of 2003 has increased by 80%.

The sharp rise in prices symbolically stopped with 1 January 2004. Real estate market took 1.5 years to restore the purchasing power. During this period, there were significant changes: increased time an exhibition of objects up to 2 months, developers have begun to provide citizens with interest-free installments at a fixed price until the end of construction, the state has increased the attractiveness of mortgage lending for banks, buyers and sellers of housing. Formed competition among banks in the mortgage market led to lower interest rates, lower commissions when you make a loan cancellation mandatory notarization of the sale and purchase agreement with the mortgage transaction, extend credit, shorten processing the transaction. From 1 April 2005 entered into force on the Federal Law of 30 December 2004 214-FZ "On Participation in shared construction of apartment buildings and other real estate and on amending some legislative acts of the Russian Federation ", limit the supply in the primary market.