Mortgage in the Russian Federation in June 2013
Russian Economic Developments. Moscow, 2013, No 8, pp. 32-34
3 Pages Posted: 26 Sep 2013
Date Written: September 25, 2013
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
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