During the month, the share of state programs decreased by 42 percentage points — an increase in their targeting affected. The “Family Mortgage” is the leader in the overall structure of loans
According to the results of July 2024, the share of preferential mortgages amounted to 34%, showing an average decrease in the country by 42 percentage points by June, follows from the review of Domclick analysts provided to the editorial office by the press service of Sberbank. Statistics include the issuance of a “Savings account” in Russia, as well as in the top 10 regions in terms of mortgage demand.
“At the beginning of July, the mortgage lending market found itself in a new reality. Firstly, the state support program has ended, and secondly, the circle of borrowers on the “Family mortgage” has been significantly narrowed, Domklik reminds. — As expected, such radical changes affected the July demand indicators: in relation to the hype of June, the share of preferential mortgages decreased from a record 76% to 34% — at the level of the first half of 2023.”
As noted in the review, the main drawdown of loans on preferential mortgages occurred in the second week of July, then the activity of borrowers began to increase. In the last week of July, Sberbank issued about 5 thousand housing loans under state programs, which approximately corresponds to the indicators of February–March 2024.
Distribution of the number of BEAC loans issued under preferential programs in July 2024. The numerical values of the share of “Far Eastern and Arctic mortgages” are shown for cases when the value exceeds 1%. The numerical values of the share of “IT mortgages” are not marked, since in the selected regions its share in the total number of loans does not exceed 1%. The data is sorted by the total share of preferential mortgages (indicated in white at the base of the columns, in parentheses — the change in the share relative to the indicators of June 2024).
In the structure of loans under preferential programs in July 2024, the “Family Mortgage” is in the lead, which accounted for 21% of all mortgage transactions of Sberbank. Compared to June, its percentage in the total number of issues decreased by 16 percentage points.
The highest rates by region were recorded in Adygea (47%), Stavropol Territory (38%), Kalmykia (37%), Krasnodar Territory (34%) and Khakassia (33%). “Adygea, Kalmykia and Khakassia are on the list of regions where the “Family Mortgage” has remained available to families with two minor children over 6 years old,” Domklik reminds, clarifying that in Moscow (32%) and St. Petersburg (31%), demand for this state program also remains relatively high.
In the regions covered by the extended terms of the “Family Mortgage”, the percentage of loans under the program has increased, the study says. The republics of Tyva (plus 11 percentage points), Adygea (plus 7 percentage points) and Khakassia (plus 4 percentage points) became the leaders in the growth of the share of this state program in the mortgage issue of Sberbank.
In the same place where the Far Eastern and Arctic Mortgage program is available, demand for it has increased — the increase in the share of loans amounted to 5 percentage points (up to 8%). “The number of transactions, in turn, increased by almost a third (plus 31%) to 3.8 thousand, which is close to the record value of December 2023,” Domclick says. – Recall that at that time the surge in demand was due to the expansion of the program to the Arctic territories.”
The Republic of Yakutia (76%) and Buryatia (70%), as well as Arkhangelsk (64%) and Sakhalin (62%) regions are the leaders in demand for these regional programs.
The study also notes a significant decline in demand for IT mortgages after changes in its parameters. Demand was affected by the exclusion of Moscow and St. Petersburg from the program, which previously accounted for about 30% of the total disbursements.
The total mortgage issuance in July was inferior to the June figures of 54.4% in the number of transactions and 49.9% in monetary terms. During the month, Sberbank borrowers issued 49.7 thousand housing loans worth 207.8 billion rubles.
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