Mortgages in Russia in 2023 were taken out mostly by people aged 25 to 45, mostly women with higher education, legally married and childless. This portrait of a mortgage borrower was compiled by Banki.ru experts.
“Compared with men, women had higher creditworthiness and were therefore more likely to be approved for a mortgage,” the analysts explained.
In 2023, the bulk of mortgage loan requests came from officially employed Russians and individual entrepreneurs. The fewest applications came from the unemployed and retired. One-third of potential borrowers wanted a mortgage for a period of 20 to 30 years.
During the year, the average mortgage amount increased by almost 9% to 3.3 million rubles. As in the previous year, borrowers mostly demanded a range from 1 to 3 million rubles. At the same time there were more applications for larger amounts. The most noticeable increase was seen in the range of 5 to 10 million rubles. The share of such mortgage applications increased from 13% in the first quarter to 18% in the fourth quarter.
Starting from March 1, the Central Bank of Russia is tightening mortgage loan conditions for Russians. Who will this affect? In the material “socialbites.ca”.
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