The cities where you need to get two or three average salaries for a mortgage are named

The maximum gap between the average salary level and the income required to approve a housing loan was noted in Moscow and Kazan

The average salary in million-plus cities is noticeably less than the income that needs to be confirmed when applying for a mortgage at market rates. This is evidenced by the data received by the editorial office of a joint study of analysts from the World of Apartments and .

The largest gap was noted in Moscow — in the capital, the real average salary is 2.9 times less than the income required to obtain a mortgage. The situation is approximately the same in Kazan (a difference of 2.8 times) and Nizhny Novgorod (2.6 times). The fourth place was shared by St. Petersburg and Rostov-on-Don with a difference of 2.5 times, the fifth (2.3 times) — Krasnodar and Samara.

A more than twofold gap was also noted in Ufa (2.1), Volgograd (2.1), and in three more millionaires — Voronezh, Omsk and Novosibirsk: to apply for a mortgage, you need to confirm to the bank a salary twice the average for the region.

As they thought

Calculations were made for a loan for a two-room secondary apartment, the cost of the object is taken as the average of the offer in its own database. It was assumed that the bank would issue a loan to the borrower at 18% for 30 years, subject to an initial payment of 30% of the value of the property. The required income and monthly loan payment were calculated using a mortgage calculator. Average salaries by region are taken from official Rosstat data (January 2024).

The minimum gap between the average and the required salary was noted in Krasnoyarsk and Chelyabinsk (1.6 times), as well as in Perm (1.7 times) and Yekaterinburg (1.9 times).

“As the study showed, in all millionaires, the real income of residents is much lower than required by banks. This difference is especially great among Muscovites, where you need to receive 380 thousand rubles per month to get a mortgage loan on the secondary market, whereas the average salary in the capital is 131.75 thousand rubles, ” the World of Apartments explains. — On average, for millionaires, the required salary is 129 thousand rubles. and 2.2 times higher than the real one.”

Data: “The world of apartments”

Analysts of the “World of apartments” pay attention that the calculations of the mortgage calculator “I will choose.ru” defines the amount of the borrower’s income, at which he can approve a mortgage, as the sum of two monthly loan payments, since banks themselves usually focus on this ratio. “Ideally, the monthly payment should not exceed 30% of the salary amount,” commented Pavel Lutsenko, General Director of the federal portal “World of Apartments”. “In fact, a person with a salary twice the monthly payment may be refused by banks today.” Thus, the salary required to obtain a mortgage for the purchase of secondary housing may actually be even higher than indicated in the calculations, the expert explained.

Domclick analysts also say that mortgage payments can be considered comfortable if they do not exceed 30% of the borrower’s income. The bank takes into account salary as income, and additionally it can take into account pension, income from real estate rental or income received under a civil contract,” Domklik reminds, noting that in calculations the bank does not consider alimony, allowances, child care payments and scholarships as income of a potential borrower.

The study of the “World of Apartments” indicates that the average amount of payment on a market mortgage for secondary housing exceeds the average income in the region of 11 million out of 16. For Moscow, the difference between them is about 58 thousand rubles, for Kazan — 25 thousand rubles, for St. Petersburg – 23.3 thousand rubles, for Nizhny Novgorod — 17 thousand rubles, for Rostov-on-Don — 13.2 thousand rubles, for Krasnodar — 10 thousand rubles. Another five million people have a difference of less than 10 thousand rubles, in other megacities the average salary is higher than the estimated mortgage payment:

“The incomes of most of our citizens, even in cities with millions of people, do not allow taking out a mortgage when buying an apartment on the secondary market. Not to mention the fact that you need to find an impressive amount as a down payment. So, in Moscow it will amount to 5.4 million rubles, in St. Petersburg — 3.3 million rubles (this is the price of a small apartment in the region), — says Pavel Lutsenko. — The unavailability of leverage in this market leads to the fact that some buyers are trying to “jump into the last carriage” of a preferential mortgage for a new building or are looking for opportunities for a preferential loan for residential housing.”

Over the year, the average income of a mortgage borrower purchasing a second home has increased significantly (Photo: Shutterstock)

Domclick analysts also note an increase in the median income of borrowers — as follows from the statistics of mortgage transactions of Sberbank in the first quarter of 2024, the national average increased by 71% year-on-year. Average incomes increased in all federal districts, the maximum increase was noted in the Central (+84%), Siberian (+83%), Southern (+79%) and Northwestern (+78%) Federal districts. Geographically, the main demand for secondary housing falls on the Central Federal District, where Moscow and the region provide demand, as well as on the Volga Federal District, where five million-plus cities out of 16 are located. The shares of these districts in issuing Sberbank mortgages for secondary housing in the first quarter amounted to 23.2% and 21.9%, respectively. “The number of mortgage transactions in the Siberian, Ural, North Caucasus, Northwestern and Southern districts is approximately the same: each listed district accounts for 8-11% of all loans in the country,” Domklik analysts explained. — And the least transactions were concluded in the Far Eastern District (5.5%), which is not surprising: buyers’ attention is primarily focused on housing that can be bought under the preferential program “Far Eastern Mortgage.

In general, the demand for market mortgages in Russia continues to decline against the background of prohibitive rates. According to the assessment of the “House.Since the beginning of the year, the issuance of market mortgages in quantitative terms has fallen by a third, while the demand for preferential mortgages, which is now present only in the market of new buildings, has increased by 13%. According to Central Bank statistics, in March 2024, the total mortgage issuance in the country was 21.4% lower than in March last year. At the same time, the shares of market and preferential mortgages were redistributed: A year ago, they were approximately equal, now market programs account for no more than 30%. “Obviously, the main reason for mortgage “freezes” is prohibitive lending rates. As specialists of the financial marketplace, we see that in April the trend of increasing mortgage interest rates to 20% resumed in banks,” said the CEO of the financial marketplace “Choose.” Grigory Burdenko. “This is how creditors react to the continuation of the Central Bank’s strict policy on the key rate.”

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