Demand for Sberbank’s preferential mortgage programs continues breaking records for a third straight month. In July, the number of loans reached 48.6 thousand, up 17 percent from the prior month. This is the finding of Sber’s online housing platform Domclick, according to the company’s press service.
Analysts from the service report a rising share of preferential housing loans within the total loan volume, climbing to 42.1 percent.
The study notes the most notable growth in the share of government housing loan program payments in July occurred in the Ivanovo region, Karelia, and the Belgorod region.
Among the largest regions by activity were Moscow, Novosibirsk, and Voronezh.
In July, transactions under the Gospodderzhka program increased by 19.7 percent, Family Mortgage by 13.6 percent, and Mortgage for IT by 31.1 percent thanks to Domclick data. These figures reflect a robust month for state supported lending. [Источник: Domclick]
Alexei Leipi, director of Sberbank’s Domclick division, identifies three main drivers behind the July surge in demand for preferential mortgages. First, Sberbank offered lenders discounts on preferential programs in the new construction market. Second, a higher central bank key rate shifted demand away from the secondary market toward the primary market, where more than 90 percent of transactions are covered by preferential mortgages. Third, since June the media has been reporting on the nearing exhaustion of government program limits, which boosted buyer interest in remaining opportunities. [Источник: Domclick]
Nonetheless, government support for preferential programs remains in place. Leipi notes that from May onward the Gospodderzhka program led in share of issued loans among all loans, and by July it reached its highest level in 2023 at 20.3 percent. In plain terms, every five mortgages opened by Sberbank in July were under this program. [Источник: Domclick]
The study also highlights that the largest gains in the share of transactions under the State Support program were concentrated in Tyva, the Ivanovo Region, and the Komi Republic. At the same time, the Family Mortgage program hit 17.8 percent of transactions in July, a peak for 2023, while Mortgage for IT rose to 1.4 percent, its highest monthly value this year. [Источник: Domclick]