Mortgage in the Russian Federation in January-February 2014

Russian Economic Developments. Moscpw, IEP. 2014, #5, pp. 29-32

4 Pages Posted: 21 May 2014

See all articles by Georgy Zadonsky

Georgy Zadonsky

Gaidar Institute for Economic Policy

Date Written: May 20, 2014

Abstract

In January-February 2014, Rb 198.175bn worth of 17,797 mortgage housing loans (MHL) were extended which is 1.4 times and 1.5 times more as regards the number of loans and in money terms, respectively, as compared to the indices of January-February 2013. As of March 1, 2014, the outstanding debt on MHL amounted to Rb 2,746 trillion which is 33.73% more than the respective debt as of March 1, 2013. Throughout 2013, the overdue debt as percentage of the outstanding debt on MHL in rubles kept falling and as of March 1, 2014 amounted to 0.98%, while that on MHL in foreign currency rose and as of March 1, 2014 amounted to 12.94%. The debt on MHL with payments overdue for over 180 days decreases as well and amounted to 1.77% of the total debt as of March 1, 2014. The weighted average rate for a month on loans extended from the beginning of the year amounted to 12.3% as of March 1, 2014 against 12.4% for the entire 2013.

Keywords: Russian mortgage market, Russian economy

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

Suggested Citation

Zadonsky, Georgy, Mortgage in the Russian Federation in January-February 2014 (May 20, 2014). Russian Economic Developments. Moscpw, IEP. 2014, #5, pp. 29-32, Available at SSRN: https://ssrn.com/abstract=2439232 or http://dx.doi.org/10.2139/ssrn.2439232

Georgy Zadonsky (Contact Author)

Gaidar Institute for Economic Policy ( email )

3-5 Gazetny Lane
Moscow, 125009
Russia

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