From January to May 2024, the demand for mortgages for private homes (the residential housing segment) increased 1.85 times, Kirill Tsarev, First Deputy Chairman of the Board of Sberbank, said on June 6 during the St. Petersburg International Economic Forum (SPIEF). So, in January, Sberbank issued 7.2 thousand such loans, in May — 13.3 thousand.
Domclick analysts also confirm a significant increase in mortgage demand for residential housing, noting that the May figures are still not record—breaking – they are inferior to the figures recorded in October (14.7 thousand) and December (14.6 thousand) 2023.
At the same time, the growth since the beginning of 2023 looks impressive, analysts emphasize: in January, 3 thousand mortgages for residential housing were issued, in February – 2.3 thousand, in March — 4.4 thousand. Further, there was an increase from month to month; in May last year, the issuance of “Savings” in the segment amounted to 8.2 thousand loans, or 8% of the mortgage market. Currently, housing and communal services account for 17% of Sberbank’s mortgage issuance, the materials specify.
rbc.group
Photo: Domclick
“The steady growth in demand is explained not only by the high demand for the residential housing market, but also by the restrictions imposed on the primary and secondary markets. In addition, the purchase of an apartment building under construction is much cheaper than buying an apartment,” Domklik explains. According to analysts’ forecasts, interest in lending in the segment will continue to grow — in particular, against the background of the launch of mortgages with the opening of escrow accounts.
As it became known at the end of May, the law extending project financing to the residential housing segment is scheduled to be adopted in July. In this case, it will come into force in September 2024.
Read also: What will happen to mortgages on residential housing after the cancellation of the preferential program under 8%
Keep up to date with important news — follow the telegram channel “RBC-Real Estate”
Authors
English 
Russian 
German 
Polish