Mortgage issuance volumes in Russia decreased by 65.5% in January – Kommersant
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The volume of mortgage issuance in Russia in January 2024 compared to December 2023 decreased by 65.5% – to 274.9 billion rubles, analysts note Frank RG. According to preliminary estimates, the annual decline was 2.8%.
“A decrease in the volume of issuances was recorded in all lending segments. The maximum decrease in January 2024 was observed in the mortgage segment. Indicators for January 2024 are 65.5% lower than December 2023 and 2.8% lower than January 2023,” the study says.
In absolute figures, Russian banks issued mortgage loans to the population in the amount of 274.9 billion rubles. In quantitative terms, there is also a decrease (by 64.7% – to 65.5 thousand in monthly terms). In particular, according to analysts, the volume of issuance of preferential mortgage loans has decreased.
In December 2023, Deputy Prime Minister Marat Khusnullin declared, that preferential mortgages in Russia can only be extended “in certain regions where demand is weak.” According to him, there will definitely not be a mass extension of preferential mortgages, since the state program “has fulfilled its function.” He clarified that some approaches to preferential mortgage programs will be revised from July 1, 2024, when their validity period ends.
About the situation on the market – in the publication “Kommersant” “Interest has accrued on benefits”.
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