The issuance of market mortgages in quantitative terms has fallen by a third since the beginning of the year, while the demand for preferential mortgages has increased by 13%, Dom.RF calculated
From the beginning of the year to April 7, Russians issued 314 thousand mortgage loans worth 1.1 trillion rubles. This is 17% less than in the same period last year in quantitative terms and 16% in monetary terms. Such data is contained in the report “House.The Russian Federation”, which was reviewed by the editorial board.
“The dynamics correspond to our forecasts of a decrease in loans as a result of changes in the terms of preferential mortgages, stricter regulation and rising market rates,” the Institute of Housing Development explained.
Moreover, the issuance of market mortgages from the beginning of the year to April 7 fell even more — by 30% in quantitative terms and by 49% in monetary terms. In total, according to market programs, Russians issued 157 thousand loans for 345 billion rubles during this period.
Photo: Dom.RF
The issue of preferential mortgages continued to grow in 2024. According to “Dom.In total, 168 thousand loans (+13% YoY) worth 880 billion rubles (+21%) were issued under preferential programs from the beginning of the year to April 11. The share of preferential mortgages in total disbursements amounted to 50% in terms of the number and 70% in terms of the amount of housing loans issued.
According to the Institute of Housing Development, the most popular program in 2024 was the family mortgage — 51% of concessional loans or 85.5 thousand units were issued under it. Since the beginning of the year, the issue of family mortgages has increased by 18% in quantitative terms and by a third in monetary terms (up to 461.6 billion rubles). While the demand for “State Support 2020” has decreased since the beginning of the year – by 5% in numerical terms and 14% in monetary terms. In total, Russians have issued 62.4 thousand loans for 264.6 billion rubles under this program.
Photo: Dom.RF
The NKR Agency predicted a record for mortgages before the end of benefits. According to analysts, in June, the demand for mortgages against the background of the cancellation of the preferential program, under which loans are issued at 8% per annum, may repeat the record of September 2023, when loans amounted to 955 billion rubles. At the same time, as a result of tightening conditions and the end of issuing mortgages with state support at 8% by the end of 2024, the volume of mortgage loans may decrease by 15-25% compared to the record of 2023 (7.8 trillion rubles) to 5.8–6.4 trillion rubles, the NKR predicts.
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