Mortgage in the Russian Federation in October 2015

Russian Economic Developments. Moscow, 2015, #12, pp. 72-75

4 Pages Posted: 24 Dec 2015

See all articles by Georgy Zadonsky

Georgy Zadonsky

Gaidar Institute for Economic Policy

Date Written: December 23, 2015

Abstract

Over three quarters of 2015, 461,232 mortgage loans (ML) totaling Rb 761.8bn were originated which is below the volume of loans extended for the corresponding period of 2014 in monetary terms down 38% and in numerical terms down 35%. As of 1 October 2015, the share of ruble ML in the volume of consumer credit came to 18.73% which is by 0.65 p.p. less than the corresponding share as of 1 October 2014. Outstanding debt on ruble ML in percent to the residual debt as of the same date has gone up by 0.17 p.p. to 1.02%. The weighted average interest rate across the Russian Federation on ruble mortgage loans originated in September 2015 came to 13.12% against the maximum indicator of 14.71% in February 2015.

Keywords: Russian economy, housing mortgage, housing loans, real estate market

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

Suggested Citation

Zadonsky, Georgy, Mortgage in the Russian Federation in October 2015 (December 23, 2015). Russian Economic Developments. Moscow, 2015, #12, pp. 72-75, Available at SSRN: https://ssrn.com/abstract=2707710 or http://dx.doi.org/10.2139/ssrn.2707710

Georgy Zadonsky (Contact Author)

Gaidar Institute for Economic Policy ( email )

3-5 Gazetny Lane
Moscow, 125009
Russia

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