Housing Mortgage in the Russian Federation in January 2015

Russian Economic Developments. Moscow, 2015, #3, pp. 31-33

3 Pages Posted: 1 Apr 2015

See all articles by Georgy Zadonsky

Georgy Zadonsky

Gaidar Institute for Economic Policy

Date Written: March 30, 2015

Abstract

In 2014, the volume of housing mortgage lending (HML) in the Russian Federation continued to grow despite the development of crisis phenomena in the Russian economy. The volume of housing mortgage credits (HMC) allotted in 2014 (Rb 1.762 trillion) was 30.18% above the same index for 2013, while their number grew by 22.7% on the previous year. The quality of the ruble-denominated HMC portfolio improved: the amount of stale debt against HMC denominated in rubles shrank by 0.15 p.p. on 2013, to 0.86%. The quality of the HMC portfolio denominated in foreign currencies also improved: the amount of stale debt against HMC denominated in foreign currencies shrank by 0.12 p.p., to 12.57%. Over the course of the year, the average monthly weighted interest rate on HMC denominated in foreign currencies grew by 1.06 p.p. on 2013, to 13.16% for December 2014. The average weighted interest rate on HMC denominated in rubles shrank by 0.35 p.p. on 2013, to 9.25%.

Keywords: Russian economy, Russia's real estate market, mortgages in Russia, housing in Russia

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

Suggested Citation

Zadonsky, Georgy, Housing Mortgage in the Russian Federation in January 2015 (March 30, 2015). Russian Economic Developments. Moscow, 2015, #3, pp. 31-33, Available at SSRN: https://ssrn.com/abstract=2587121 or http://dx.doi.org/10.2139/ssrn.2587121

Georgy Zadonsky (Contact Author)

Gaidar Institute for Economic Policy ( email )

3-5 Gazetny Lane
Moscow, 125009
Russia

Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Downloads
14
Abstract Views
291
PlumX Metrics