Mortgage in the Russian Federation in November 2015

Russian Economic Developments. Moscow, 2016, No. 1, pp. 46-51

6 Pages Posted: 24 Jan 2016

See all articles by Georgy Zadonsky

Georgy Zadonsky

Gaidar Institute for Economic Policy

Multiple version iconThere are 2 versions of this paper

Date Written: January 23, 2016

Abstract

Over 10 months of 2015, entities of all patterns of ownership have built 792,000 flats with total floor space of 58.9 million sq. m., which climbed to 104.2% of floor area commissioned as of 1 November 2014. For the category “all flats” the rate of accessibility decreased in 2015 on the primary and secondary housing markets to 2.49 and 2.54 years, respectively. Compared to 9 months of 2014, the number of registered plots of land by individuals for the same period of 2015 (429,157 certificates) down 12.61%. In comparison with last year, the number of housing mortgage loans (HML) for 10 months 2015 fell by 33.93% in quantitative terms (526,757 mortgages) and down 37.07% in value terms (Rb 872.82bn). As of 1 November 2015, the HML quality portfolio denominated in roubles has deteriorated: outstanding debt in percent to residual debt has moved up by 0.17 p.p. to 1.02%. Nevertheless, from March 2015, average weighted rate on rouble loans down 1.82 p.p. to 12.89%.

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

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

Suggested Citation

Zadonsky, Georgy, Mortgage in the Russian Federation in November 2015 (January 23, 2016). Russian Economic Developments. Moscow, 2016, No. 1, pp. 46-51, Available at SSRN: https://ssrn.com/abstract=2720798

Georgy Zadonsky (Contact Author)

Gaidar Institute for Economic Policy ( email )

3-5 Gazetny Lane
Moscow, 125009
Russia

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