Mortgage issuance in Russia has decreased by 13% since the beginning of the year

The issuance of mortgage loans in the Russian Federation as of August 1, 2024 decreased by 13% compared to the same period in 2023 — to 864 thousand contracts, — the report says.

It also notes that the volume of mortgage issuance has decreased in the same proportions and as of August 1 it amounted to 3.2 trillion rubles. At the same time, Khusnullin specified that by the end of 2024 the industry should cross the threshold of 100 million square meters of housing.

At the same time, the presentation notes that the volume of construction in Russia has grown by almost 35% since 2019, to almost 1.3 trillion rubles. During the meeting, Khusnullin added that, according to the results of the first half of this year, the growth of the domestic construction industry amounted to 4%.

Currently, according to the Deputy Prime Minister, 165 million square meters of housing are under construction, which is 7% more than for the same period in 2023. From January to July, more than 61 million square meters of housing were built, which is 2% more than a year earlier, he specified.

Previously Vladimir Putin instructed the government and the Central Bank should study the situation on the mortgage lending market in order to determine the impact of the preferential program for families with children.

source: «Russian newspaper»