Recent findings from Sravni.ru show that only about two percent of Russians are prepared to take on a mortgage at current market rates, a signal of tight lending conditions and cautious consumer sentiment in the housing market.
Six percent said they intended to buy a home through the preferential mortgage program. Meanwhile, 78 percent did not plan to use borrowed funds to purchase real estate and instead aimed to accumulate savings. Of these savers, 70 percent preferred bank deposits, 23 percent held cash, and 7 percent chose to invest.
A sample of roughly 1,200 Russians aged 18 and older from across the federation participated.
By the end of September, banks issued 34 thousand loans under the family mortgage program, totaling 199 billion rubles. The volume marked a 15 percent increase from August and approached the May peak. In the spring period, concessional mortgage issuance stood at 203 billion rubles, while the Ministry of Finance had not yet tightened the program’s conditions.
Previously, the Central Bank removed restrictions on the total cost of a mortgage loan.