The Real Estate Market in the Russian Federation in Q1 2016

Russian Economic Developments. Moscow, 2016, No. 6, pp. 38-42

5 Pages Posted: 28 Jun 2016

See all articles by Georgy Zadonsky

Georgy Zadonsky

Gaidar Institute for Economic Policy

Date Written: June 27, 2016

Abstract

In Q1 2016, 224,000 flats were built totaling to 15.6 mn sq. m, which constitutes 84% of the floor space commissioned in Q1 2015. In Q1 2016, the volume of land mortgage loans extended to individuals exceeded by 52.8% the volume of land mortgage loans extended to individuals in Q1 2015 and its volume came to 79.13% of the total number of mortgage loans originated in Q1 2016. In Q1 2016, credit institutions extended to borrowers 188,300 housing mortgage loans (HML) totaling to Rb 323.4 bn, which by 48% exceeded the amount of housing mortgage loans originated in Q1 2015. As of 1 April 2016, outstanding debt on HML denominated in rubles in percent to residual debt went up by 0.06 p.p. against 2015 and constituted 1.08% Average weighted rate for March 2016 on HML denominated in rubles came to 12.86% against the maximum value of 14.71% for February 2015.

Keywords: Russian economy, real estate market, housing mortgage

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

Suggested Citation

Zadonsky, Georgy, The Real Estate Market in the Russian Federation in Q1 2016 (June 27, 2016). Russian Economic Developments. Moscow, 2016, No. 6, pp. 38-42, Available at SSRN: https://ssrn.com/abstract=2801046 or http://dx.doi.org/10.2139/ssrn.2801046

Georgy Zadonsky (Contact Author)

Gaidar Institute for Economic Policy ( email )

3-5 Gazetny Lane
Moscow, 125009
Russia

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