Mortgage in the Russian Federation in June 2013

Russian Economic Developments. Moscow, 2013, No 8, pp. 32-34

3 Pages Posted: 26 Sep 2013

See all articles by Georgy Zadonsky

Georgy Zadonsky

Gaidar Institute for Economic Policy

Date Written: September 25, 2013

Abstract

In the first five months of 2013, 270108 mortgage housing loans (MHL) for the amount of Rb 435,071 bn were granted which is 12.41% and 24.86% higher than in 2012 as regards the number of the loans and their value in monetary terms, respectively. As of June 1, 2013, the outstanding debt on MHL rose by 34.91% as compared to June 1, 2012 and amounted to Rb 2,214 trillion. In 2013, the share of overdue debt in the outstanding debt on MHL in rubles decreased and amounted to 1.32% as of June 1, 2013, while that on loans in foreign currency increased within the same period to 12.15%. In May 2013, interest rates on MHL rose by 0.1 p.p. as compared to April; it is to be noted that the monthly average rate on loans in rubles amounted to 12.7%, while that on loans in foreign currency extended from the beginning of the year to 10.1%.

Keywords: Russian economy, Russian real estate market

JEL Classification: G21, K11, L74, L85, R14, R21 , R31, R52

Suggested Citation

Zadonsky, Georgy, Mortgage in the Russian Federation in June 2013 (September 25, 2013). Russian Economic Developments. Moscow, 2013, No 8, pp. 32-34, Available at SSRN: https://ssrn.com/abstract=2330910 or http://dx.doi.org/10.2139/ssrn.2330910

Georgy Zadonsky (Contact Author)

Gaidar Institute for Economic Policy ( email )

3-5 Gazetny Lane
Moscow, 125009
Russia

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