Mortgage in the Russian Federation in H1 2015
Russian Economic Developments. Moscow, 2015, No. 10, pp. 48-52
5 Pages Posted: 1 Nov 2015
Date Written: October 30, 2015
In January-August 2015, 40.01 million m sq. of housing was constructed up 9.25% compared to the corresponding period of the previous year. Average actual construction cost of a square meter of residential housing in H1 2015 down 9.83% against H2 2014 and amounted to Rb39.44 and ration between the cost of a square meter of floor area on the primary housing market and the construction cost of a square meter up 6.48% for the same period and came to 132.35%. In January-July 2015, 3338,569 housing mortgage loans (HML) totaling Rb557461bn were originated which was 60.12% lower in monetary terms against the same period of 2014. The ruble stale debt on HML as of 1 August 2015 amounted to Rb34.86bn. At the same time, its share in the residual debt up 0.1 p.p. against 1 August 2014. According to CBR, in July 2015, HML average rate extended over a month in rubles fell against its maximum value of 1 March 2015 by 1.27 p.p. to 13.44%.
Keywords: Russian economy, mortgage, housing loan
JEL Classification: G21, K11, L74, L85, R14, R21, R31, R52
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