Morgage Credit in 2020

Monitoring of Russia's Economic Outlook: Trends and Challenges of Socio-economic Development. Moscow. IEP. 2021. No. 3, pp. 14-17

4 Pages Posted: 27 Mar 2021

See all articles by Sergey Zubov

Sergey Zubov

Russian Academy of National Economy and Public Administration under the President of the Russian Federation (RANEPA)

Date Written: February 26, 2021

Abstract

The final transition to escrow accounts model in financing residential construction was the highlight of the mortgage market in 2020. The model provided state guarantee for the citizens investing in housing at the construction stage. The reduction of credit rates and implementation of the state program on interest rate subsidization for newly constructed building mortgage loans have resulted in upward demand on the real estate market. Over 2020, the Russian banks have built up the value of mortgage loans exceeding record indexes previously recorded in 2018.

Keywords: Russian economy, morgage lending

JEL Classification: G21, G24, G28

Suggested Citation

Zubov, Sergey, Morgage Credit in 2020 (February 26, 2021). Monitoring of Russia's Economic Outlook: Trends and Challenges of Socio-economic Development. Moscow. IEP. 2021. No. 3, pp. 14-17, Available at SSRN: https://ssrn.com/abstract=3793820 or http://dx.doi.org/10.2139/ssrn.3793820

Sergey Zubov (Contact Author)

Russian Academy of National Economy and Public Administration under the President of the Russian Federation (RANEPA) ( email )

Vernadskogo Prospect 82
Sredny av. V.O., 57/43
Moscow, St. Petersburg 119571
Russia

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