Spring warmth has arrived on the suburban housing market

In which regions are the most issued mortgages for individual housing construction?

The largest share of lending in the private housing construction segment was recorded in the Moscow region (16% of issuances since the beginning of the year), Krasnodar Territory (15.5%) and Tatarstan (10%). What preferential mortgage programs for the purchase of country houses are most in demand today?

The top 10 regions also included Moscow, Samara, Nizhny Novgorod, Rostov, Sverdlovsk, Tyumen and Voronezh regions, said Alexey Kosyakov, Deputy Chairman of the Board of DOM.RF Bank.

“The construction of private houses traditionally gains momentum in the spring-summer season, this is confirmed by our statistics – since the beginning of the year we have seen an increase in lending volumes by an average of 27% per month. We expect further development of the segment, especially against the backdrop of the introduction of mortgages for construction through escrow accounts,” Kosyakov noted.

According to his estimates, the most popular program for private housing construction in transactions since the beginning of 2024 is “Family Mortgage”. It accounted for half of the concluded loan agreements. With the help of a program for IT specialists, almost every fourth family began to build a private house. About 22% of borrowers took advantage of “preferential mortgages with state support.”

Let us remind you that the preferential mortgage program for the purchase of housing in new buildings, the construction of a private house or the acquisition of land for its construction is valid until July 1, 2024. To further develop the private housing market, it is planned to create a unified program to support individual housing construction.

The head of the Central Bank, Elvira Nabiullina, stated that non-addressed preferential mortgages should be completed. In turn, Deputy Prime Minister of the Russian Federation Marat Khusnullin noted that the Russian government may consider extending preferential mortgages in certain regions with low demand.