On the eve of Youth Day, which is celebrated on June 29, Domclick analysts studied the preferences of young borrowers. In particular, the demand of young people for private homes has increased significantly over the year, while most often young people take out secondary loans
The highest proportion of young mortgage borrowers in 2024 is observed in the Sverdlovsk and Chelyabinsk regions (11.2% each), and most often young people apply for secondary housing loans — 55.4%. Such data is contained in a study by Domclick analysts.
As they thought
Domclick analysts reviewed mortgage transactions made by young people aged 18 to 25 among Sberbank’s transactions for 2024. In regions with million-plus cities, they calculated the share of housing loans issued by young people. In addition, experts studied the preferences of young people when choosing real estate for a mortgage, and also established the average loan amount, term, and payment. They compared these indicators with those of borrowers of other age groups.
What kind of mortgage does the youth apply for
According to the study, the average initial payment of young borrowers is 1.5 million rubles. This is lower than for other age groups (1.9 million rubles). On average, young borrowers pay 29.2 thousand rubles for a mortgage against 33.4 thousand rubles for other age groups. Experts explain this, firstly, by more profitable real estate, which is purchased by young people (4.6 million rubles). compared with other age groups (5.5 million rubles). Secondly, the income of young people (81 thousand rubles) It is also significantly lower than for other categories of borrowers (about 124 thousand rubles).
At the same time, the loan term for young borrowers (over 26 years) practically does not differ from the term for which other borrowers apply for a housing loan.
In which regions do young people most often take out preferential mortgages
In less than six months of 2024, young people executed almost every transaction in Sberbank (9.2%). This is almost comparable to the first half of 2023 (-0.3 percentage points). The highest proportion of young borrowers among the largest regions, according to Domclick, in 2024 was recorded in the Sverdlovsk and Chelyabinsk regions (11.2% each), as well as in the Krasnoyarsk and Perm Territories (11% each).
The lowest percentage of borrowers aged 18-25 years is noted in the metropolitan regions, where the highest real estate value is. In Moscow, the figure is 5.4%, in the Moscow region — 6.4%, and in St. Petersburg – 7.1%. A low percentage was also recorded in the Krasnodar Territory (7.1%).
What kind of housing do young people get on credit?
The most popular among young borrowers of Sberbank, as in the past year, is secondary housing. According to Domclick, it accounts for 55.4% of the disbursements. At the same time, the indicator decreased by 16.5 percentage points in annual terms, which is due to a general decrease in demand for ready-made housing. On average, young borrowers buy lots on the secondary market for 3.4 million rubles. And the median area of purchased apartments is 80 sq. m. Two-bedroom apartments are the most popular (38.9% of transactions on the secondary market).
Transactions with new buildings account for 26.4% of the total mortgage demand among young people. Over the year, the indicator increased slightly — by 3.9 percentage points. The average cost of purchased apartments in new buildings is almost twice as high — 6.3 million rubles, while the area is almost as much smaller — 46 sq. m. Most of the purchased apartments in new buildings are one-room (57.1% of transactions).
Another 14.1% of mortgage transactions among young borrowers are for individual construction. Moreover, over the year, the indicator increased by 11.1 percentage points. Analysts explained the growth in popularity of private homes by the availability of preferential programs, affordability, as well as softening of the bank’s requirements. In particular, in May of this year, the minimum age for obtaining a mortgage for residential housing decreased from 21 to 18 years.
Alexey Leypi, Director of the Domklick Division of Sberbank:
— Despite the fact that secondary real estate remains the most popular type of purchased housing, the attention of young borrowers is increasingly attracted by the market of individual housing construction. So, over the year, the share of residential housing in the total number of loans increased immediately by 11 percentage points, to 14%, while the percentage of transactions with secondary housing decreased by 17 percentage points, to 55%. Meanwhile, the demand for primary real estate has changed slightly — over the year it increased by 4 percentage points, to 26%.
Recently, Domclick analysts noted a narrowing of the housing price gap in the center and on the periphery. According to their data, the indicator decreased the most in the Voronezh, Volgograd and Rostov regions. In general, the prices for secondary goods outside the administrative centers are lower than in the centers themselves. The gap values range from 18% to 64%.
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