At the end of 2022, the volume of loans for individual housing construction (IZHS) in Russia accounted for 1.3% of the total mortgage portfolio. In this respect writer “Kommersant”, which refers to the data of the Domklik service.
Mortgage penetration into the IZHS segment is also still low – 6.3% of all transactions. 57.2 million square meters in 2022. Last year, 3.6 million square meters of construction financing was provided due to the mortgage on individual housing construction. m individual houses, in 2021 – only 1.1 million square meters. m is indicated in the publication.
Market experts consider that there is a demand for mortgages in individual housing construction, but still significantly dependent on the conditions presented. The thing is that the risks of default are included in the cost of the loan, therefore, in the presence of government subsidies, the product itself attracts the attention of consumers. In addition, if a person builds housing on his own, the price increase can be at least 40%.
Analysts pointed out that the extension of concession mortgages with government support could have a positive impact in the individual residential construction segment. At the same time, growth rates will depend on the macroeconomic situation in the country. If economic indicators do not worsen, a slight increase in the market can be expected until the end of 2023.
In mid-December, Kommersant, citing Rosstat data, WroteIn November 2022, it was reported that the commissioning volume of individual residential construction projects in Russia decreased to 1.76 million square meters. m. At the same time, in February 2022, this figure was at the level of 7 million square meters. In addition, commissioning volumes decreased dynamically throughout the year.