Mortgage in the Russian Federation in January Through May 2014
Russian Economic Developments. Moscow, 2014, #8, pp. 28-30
3 Pages Posted: 17 Sep 2014
Date Written: September 16, 2014
Within five months of 2014, as compared to the respective period of the previous year growth in the volume of mortgage housing lending amounted to 35.96% and 44.15% as regards the number of loans and their monetary value, respectively (the respective data of 2013 against 2012: 12.46% and 24.90%, respectively). Within the above period, Rb 627.34 worth of 367,398 mortgage housing loans (MHL) was extended. As of June 1, 2014, the outstanding debt on MHL rose by 34.29% as compared to June 1, 2013 and amounted to Rb 2.97 trillion. In 2014, the share of the overdue debt in the outstanding debt on MHL in rubles decreased and as of June 1 amounted 0.92%, while that on loans in foreign currency increased within that period to 13.60%. In May 2014, the monthly weighted average rate on loans in rubles decreased by 0.1 p.p. and amounted to 12.2%, while the weighted average rate on loans extended from the beginning of the year in foreign currency gained as of June 1, 2014 0.1 p.p. as compared to May 1, 2014 and amounted to 9.6%.
Keywords: Russian economy, real estate market
JEL Classification: G21, K11, L74, L85, R14, R21, R31, R52
Suggested Citation: Suggested Citation