In the first months of 2024, the share of family mortgages in the total concessional loan volume in Russia reached record levels, reaching over 50%. Alexandra Mamokhina, strategic marketing and product manager at the development company Level Group, told socialbites.ca.
“Only at the beginning of 2024, the share of family housing loans increased by 6-11 percentage points compared to 2023 indicators. According to Mamokhina statistics, as of the beginning of 2024, the share of family mortgages accounts for more than 50% of the total volume of concessional mortgage loans.
“We see that at the beginning of 2024 the share of total mortgage transactions using family mortgages is already 43%, which is 6 points higher. “More than in 2023,” he said.
At the same time, the share of transactions using government-backed mortgages dropped significantly, by almost 30 percentage points. up to 11% of the total number of mortgage loans.
At the same time, IT mortgages are growing in popularity. According to Mamokhina, at the beginning of 2024 the share of this mortgage product in Russia reached 12%, compared to 7-8% in mid-2023. At Level Group, IT mortgages currently account for 27% of all loans issued – more than double the 2023 average (15%).
Before that Putin offered Expand the Family Mortgage program.
Previously in Russia made Portrait of a mortgage debtor.