Demand for Sberbank’s preferential mortgage programs is breaking records for the third month in a row: In July, the number of loans amounted to 48.6 thousand, an increase of 17% compared to the previous month. Analysts of Sber’s online service for finding and selling housing “Domclick” came to this conclusion, the company’s press service reported.
According to the research conducted by service employees, the share of preferential housing loans in the total number of loans also increased and reached 42.1%.
According to analysts, the largest growth in the share of payments under state housing loan programs in July was shown by the Ivanovo region, Karelia and the Belgorod region.
Among the largest regions were the Moscow, Novosibirsk and Voronezh regions.
According to the company, in July, the number of transactions under the Gospodderzhka preferential mortgage program increased by 19.7%, by Family Mortgage by 13.6% and by Mortgage for IT by 31.1%.
According to Alexei Leipi, director of Sberbank’s Domclick division, there are three reasons for the increase in demand for preferential mortgages in July.
“First of all, Sberbank offered creditors discounts on preferential programs in the new construction market. Second, the increase in the Central Bank’s key rate made it less profitable to take home loans from the secondary market and diverted demand to the primary market, where more than 90% of transactions are covered by preferential mortgages. Third, since June, the media has been writing about the imminent completion of preferential mortgages, as the limits on government programs have actually been exhausted.”
But as Leipi points out, the Russian government continues to support preferential programs.
“From May, Gospodderzhka became the leader in terms of the share of issued loans in the total number of loans: in July this figure reached its highest value in 2023 – 20.3%. Thus, every five mortgages at Sberbank in July were issued under this program,” he said.
The study notes that the largest increase in the share of transactions under the State Support program was observed in Tyva, Ivanovo Region and the Komi Republic.
At the same time, the share of Family Mortgage program in July reached its maximum value in 2023 and realized as 17.8%. Mortgage for IT also increased: Domklik experts said in July it reached its highest value in 2023 – 1.4%.