Among Russian cities, from March 2020 to March 2021, the average amount of a mortgage increased in St. Petersburg – by 29.8% – from 3.175 million to 4.121 million rubles. This was reported on the website of the National Bureau of Credit Histories (NBCH) on Thursday, April 29.
The NBCH analyzed the data of 4 thousand credit organizations, which transmit information about loans of citizens to the bureau. The rating includes 30 subjects with the maximum volumes of mortgage loans.
The Primorsky Territory (+ 21.2%) took the second place among the leading regions in terms of growth in the amount of mortgage loans, and the Saratov Region (+ 19.9%) ranks third. The top five also included Udmurtia (+ 19%) and Moscow Region (+ 18%). In Moscow, the increase was 13.3%.
The average size of a mortgage loan issued in Russia in March this year amounted to 2.92 million rubles, which is 0.3% more than in February and 12.8% more than in March last year.
The maximum average size of a mortgage loan among all the subjects participating in the rating was revealed in Moscow last March – 6.23 million rubles. Then comes the Moscow region – 4.71 million rubles, St. Petersburg – 4.12 million rubles, the Primorsky Territory – 3.66 million rubles and the Leningrad region – 3.39 million rubles.
The smallest loan amounts were recorded in 2020 in the Chelyabinsk region – 1.74 million rubles, the Altai Territory – 1.75 million rubles and the Kirov region – 1.82 million rubles. The minimum growth for the year occurred in Samara – 2.4%, Voronezh – 3.4% and Sverdlovsk – 4.8% regions.
General Director of the NBKI Alexander Vikulin notes that the average amount of a mortgage loan has been growing for almost a year. After a decrease of about 10% in the spring of 2020, in the future, it not only returned to the pre-pandemic level, but also exceeded it. The growth was boosted by falling interest rates thanks to government subsidy programs.
The program to subsidize mortgage interest rates up to 6.5% was launched in April 2020. It was supposed to end on November 1, 2020, but at the end of October, the government extended it until July 1, 2021.
In February of this year, Russian President Vladimir Putin instructed the Cabinet of Ministers, together with the Central Bank, to submit proposals for the implementation of preferential mortgage programs in 2021-2024, considering the possibility of reducing the interest rate under the preferential mortgage program for families with two or more children.
In mid-April, the deputy head of the Ministry of Construction Nikita Stasishin announced his support for the idea of extending the preferential mortgage program. According to him, the preparation of the relevant documents is now being completed.