On request BFM.ru Two large-scale housing and communal services exhibitions conducted research, inviting their respondents to answer a number of financial questions. The main conclusion is that the credit ceiling of family mortgages in the segment of individual housing construction is too low — both developers and buyers rest against it
According to the calculations of the experts of the division “CYANOGEN.Analytics”*, who studied the data of the Central Bank of the Russian Federation, in the first half of 2024, 226.2 thousand mortgage loans were issued across the country for the purchase and creation of residential housing facilities (83.9 thousand in the first quarter and 142.3 thousand in the second). This is about 30% of the total number of mortgages issued during this period (29.1% and 30.2%, respectively). Moreover, 72% of all residential mortgages were issued for the construction of houses and only 28% for purchase; that is, more often the population prefers to build houses on their own, apparently either not finding ready-made options suitable for a specific request, or not trusting their quality, or not being satisfied with the proposed transaction amount.
And another structural mortgage indicator: in the first half of this year, the average amount of a loan issued for the construction or purchase of a house amounted to 2.6 million rubles. This is less than the average amount of all housing loans issued over the same period (3.7 million rubles). In other words, according to the calculations of “CYANOGEN.Analysts”, borrowers take a smaller amount for housing and communal services than for the purchase of an apartment.
The abolition of preferential mortgages, the tightening of the conditions of family and IT mortgages – it is clear that all this has seriously affected the market and, as CIAN experts say, has unbalanced mortgage statistics. So, according to their estimates*, in July only 107.2 thousand mortgages were issued in Russia — this is 47% less than in June. In the segment of new buildings, the indicator immediately decreased by 78%, in the secondary sector — by 9%. In the residential housing segment, a drop of 19% was recorded: if in June 2024 borrowers issued 59.3 thousand loans, then in July — only 43.4 thousand, which is understandable, given that even an extended family mortgage was not issued in the first decade of July, and the IT mortgage was generally “frozen” the whole month.
Today, those who want to build or buy their own house and are forced to consider applying for a loan for this have to focus either on classic banking products (which are simply unavailable at current rates), or still on preferential programs, the largest of which is a family mortgage extended until 2030. In the basic scenario, a preferential loan at 6% can be used by families with children under the age of six, as well as families raising a minor child with a disability.
In addition, citizens of certain regions and cities can receive a family mortgage, in particular families with two minor children living in small towns of up to 50,000 people (with the exception of the territories of Moscow, St. Petersburg, Moscow and Leningrad regions) or in regions with a low volume of new construction.
Photo: Alexander Ryumin/TASS
Most importantly, a number of conditions for issuing a family mortgage have been revised, but the maximum loan amounts have remained: for residents of Moscow and the Moscow region, St. Petersburg and the Leningrad region – 12 million rubles, for residents of other regions — 6 million rubles. On request BFM.ru Experts from two major Russian residential housing exhibitions – Open Village and Low—Rise Country — conducted research, inviting respondents to answer a number of financial questions. Here are the results:
“How much do you want to pay for the purchase / construction of a private house?” 37% of participants in the survey of “Low—rise country” said they would like to meet 5 million rubles, and another 38% – in the amount of 5 million to 10 million rubles; 15% agree to spending in the range of 10 million to 15 million rubles, 6% — by 15-20 million, 2% — by 20-30 million or more than 30 million rubles.
The Open Village clearly has a more affluent audience, therefore the price distribution here is somewhat different: up to 5 million rubles — 13%, up to 10 million rubles — 32%, 10-15 million rubles — 28%, 15-20 million rubles — 18%, 20-30 million rubles — 7%, more than 30 million rubles — 2%. But anyway, in the end, the amount in the region of 10 million rubles turned out to be the most popular for everyone.
“Do you think that the current credit limit under a family mortgage (12 million rubles for Moscow, the Moscow region, St. Petersburg and the Leningrad region and 6 million rubles for all other regions) should be raised or is this money quite enough?” The most unpopular answer to this question is that there are even a lot of these amounts, the bar can be omit: only 2% of the Open Village respondents and only 7% of the respondents of the “Low-rise Country” chose this option. In both studies, the answer “The credit bar needs to be raised” won (70% and 63%, respectively), and the answer “Just enough, nothing needs to be raised” scored 28% and 30% of the votes.
But if it is proposed to raise the maximum amount of loans from the current 6 million and 12 million rubles, then how much exactly? This is what the participants of the survey of the exhibition “Low—rise country” think: up to 9 million and 15 million rubles — 38%, up to 12 million and 18-20 million rubles — 30%, up to 15 million and 22-25 million rubles – 15%. And another 17% chose the option in which all Russian regions are equalized in credit rights and the bar for all is set at the level of 18-20 million rubles.
Answering the same question, Open Village respondents were divided as follows: up to 9 million and 15 million rubles — 29%, up to 12 million and 18-20 million rubles — 40%, up to 15 million and 22-25 million rubles — 21%. The option of setting the credit bar at the level of 18-20 million rubles throughout the country gained 10% of the votes here.
Photo: Natalia Kohanova/Lori Photo Bank
Developers working in the residential housing market near Moscow, with whom I talked BFM.ru We generally agree: the credit bar should be raised. “We agree that the credit ceiling of 12 million rubles in our Moscow region should be raised to 25 million rubles. Because at current construction prices of 12 million rubles, the amount is clearly insufficient. This is due, in particular, to an almost twofold increase in the cost of construction in recent years. Accordingly, the limits should be reviewed in proportion to the price increase,” says Ekaterina Krapivina, Sales Director of Villagio Realty, the commercial department of Villagio Estate.
Ekaterina Krapivina Sales Director of Villagio Realty, the commercial department of Villagio Estate, “Suburban real estate should be chosen carefully. It is necessary to analyze the convenience of the destination, transport accessibility, current and planned social infrastructure nearby — all this also affects the purchase price. It often happens that, after starting a search, customers do not fully understand what the pricing of real estate consists of. They monitor sites like CIAN and Avito, where there are offers with prices from both owners and brokers, and focus on them as a kind of median. In practice, when customers immerse themselves in the market of current offers, they begin to understand pricing more and formulate targeted requests. There are no uniform standards for their requests, but the most popular ones can be identified. For example, in elite suburban real estate, this is a turnkey house of up to 200 million rubles or a plot of up to 50-60 million rubles. Now is the time for an active transformation and rapid growth of the suburban market. In the next year or two, new projects will be launched in the residential housing segment, and the infrastructure (both transport and social) will continue to develop. All this will boost demand and, as a result, affect price growth — they will also not stand still.”
“From the point of view of the developer, of course, it would be beneficial for us to raise the credit ceiling to 30 million rubles. This would increase the demand for large houses with an area of 200-250 square meters,” Ekaterina Kogan, director of the marketing department at FGC Family, continues the conversation.
Ekaterina Kogan, Director of the marketing department of FGC Family, “Over the past three years, the share of mortgages in the apartment market has been more than 85%, and in the residential housing market began to grow rapidly only in the last year and amounted to 60%. Therefore, in our segment, the amount of the initial payment is higher, but nevertheless, customers try to fit into the amount of 16.5-20 million rubles. At the same time, prices for residential housing and townhouses will grow, now there are no prerequisites for reducing their cost. This segment is undervalued, so we expect only growth in the near future.”
By the way, according to statistics published at the end of July by the INCOM-Real Estate analytical center*, 7.3 thousand cottages and plots with a contract (USP) in 215 projects are on display in the primary suburban market of the Moscow region. A year ago, the offer of this format totaled 4.6 thousand lots in 171 projects — that is, an increase of 59% and 26%, respectively.
See also:
When do I need to exercise to lose weight?
How many lottery tickets do I need to buy to win?
An unusual business that can make a fortune
A schedule for those who care about their health
Which country is the most environmentally friendly?
What do the richest people on the planet eat?
“The average cost of a cottage is currently 24.3 million rubles compared to 25.8 million rubles a year ago, a decrease of 6%. The offer is replenished by settlements of large developers, and therefore the average price level may decrease slightly: in each new project there are objects more budget-friendly than the market average. In the near future, possible price fluctuations will be associated with changes in the composition and volume of the supply of primary construction projects,” analysts at INKOM—Real Estate predict.
Along with the increase in supply, the volume of sales is expanding, the company says. Since the beginning of this year, the segment of primary cottages has added 28% in sales; the number of transactions in the first quarter was 47% more than in the first quarter of 2023, the second quarter showed an increase of 44% year-on-year.
“In the second half of the year, we expect that activity will continue, unless there are some negative changes in the macro environment – the real estate market reacts sensitively to all economic and political events. In calm conditions, at least without deterioration and sudden movements, the suburban segment has good prospects,” INKOM-Real Estate is confident.
English 
Russian 
German 
Polish