Domclick analysts estimated that from January to April 2022, Sberbank issued mortgage loans for residential housing for 17.5 billion rubles, which is 4.5 times more than in the same period last year. In the first three weeks of May, Sberbank customers took out a mortgage on residential housing for 2.2 billion rubles. This corresponds to the volume for the whole of May 2021.
Interest in private housing construction in Russia continues to grow — this is confirmed by both opinion polls and official statistics. According to the latest data from Rosstat, 63% of all housing commissioned in the country in the period from January to April 2022 fell on the residential housing segment. Back in 2020, this share was less than 50%. According to VTsIOM, about 45.4 million Russian households (or 73% of the total) would like to live in a private house and consider this format ideal.
We note a steady increase in interest in mortgages on residential housing. For example, the issuance of this type of housing loans in Savings in the first four months of 2022 increased 4.5 times compared to last year, and in 2021 they exceeded the figures of 2020 by about 3.5 times. Demand is actively supported by state programs that have recently been extended to residential housing — this is, first of all, a preferential state program and a family mortgage. According to the results of the first quarter of 2022, the issuance of mortgages for private housing construction in the Savings Bank was five times higher than the same quarterly indicator of 2021, while the share of residential housing under state programs amounted to more than 70% of the total volume of mortgages for residential housing
Maria Romchanova, Head of the Analytical Center of Domclick service
After the extension of preferential mortgages for new buildings to the residential housing segment, borrowers are actively using a new opportunity — now the rate under this program is from 8.3% per annum, which is below the market level. Borrowers with children also have access to preferential mortgage loans for housing and communal services from 5.3% per annum under the "Family Mortgage" program. The demand for this program is steadily growing after it was expanded, including for families with an only child.
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