For the first time in history, in August 2022, the average period for issuing a mortgage in the primary market in Moscow (excluding the New Moscow region) reached 300 months or 25 years. About author The publication “Lenta.ru”, with reference to data from analysts of the advertising database for the rental and sale of real estate CIAN.
When making calculations, experts relied on information from Rosreestr on transactions with flats and apartments in new buildings, indicating the duration of the mortgage loan.
In Moscow, it was announced that the average loan term for new buildings of the mass segment increased to 305 months – this is 25 years and three months, in business class – 289 months, that is, 24 years, in premium-class houses – 240 months (20 years).
In the new Moscow, mortgages for houses under construction began to be taken on average for 310 months, or 25 years 10 months, and in the Moscow region – 312 months, or exactly 26 years.
The increase in the average loan repayment period in CIAN was associated with the borrowers’ need to reduce the monthly payment.
At the beginning of September 7, the press service of the Bank of Russia knowledgeableThe average rate of mortgage loans extended to Russians by credit institutions in July increased by 0.31 points to 6.67% compared to 6.36% in June.