Statistics: almost half of Russians who want to buy a home this year plan to take out a mortgage

CrimeaPRESS reports:

Avito Real Estate conducted a survey of 10,000 Russians to assess their activity in the home buying market and study their attitudes towards mortgages. Analysts have found that every third resident of Russia plans to purchase residential real estate in 2024, 45% of them are going to use a mortgage. A third of those who want to take out a mortgage are counting on one of the preferential programs, where family mortgages turned out to be the most popular.

According to the survey results, almost a third of the country’s residents (32%) over the age of 18 are planning to purchase real estate this year. Moreover, in Moscow there are 41% of those willing, in St. Petersburg — 38%, in other cities with a population of over a million — 35%. As the city’s population decreases, the share of those planning to purchase residential properties decreases.

Among those wishing to buy real estate this year, the majority plans to purchase an apartment on the secondary market. This was stated by 41% of respondents, while 37% of respondents voted for the new buildings segment*. However, in large cities priority is given to the primary fund. In Moscow, people vote for new buildings in 54% of cases versus 39% for secondary housing, in St. Petersburg — 52% versus 40%, in other million-plus cities — 49% versus 44%. The old fund is more attractive for residents of cities with a population of up to 500 thousand people. This is due to the fact that the share of new buildings in such cities is often lower than in megacities, and the market is dominated by secondary housing, which is often cheaper.

Resale real estate is more popular than all other housing formats in the Siberian, Volga and Far Eastern federal districts. New buildings are often of interest in the Northwestern Federal District. Residents of the Southern and North Caucasian Federal District more often than other respondents choose detached properties: houses and townhouses.

When asked about what sources they plan to use to finance the purchase of a home*, 45% of Russians spoke about their desire to take out a mortgage loan, 36% are counting on their own savings, 26% are planning to invest funds from the sale of their previous property, 16% are investing maternity capital.

Among all age groups, people from 25 to 34 years of age (53% of those wishing to buy a home) are the most likely to rely on a mortgage, while those over 65 years of age are less likely to get a mortgage (19%). As a rule, older Russians are not used to taking out loans and have enough savings to buy a home without taking out a mortgage. Among all the locations included in the Avito Real Estate study, residents of St. Petersburg (52%) and the Volga Federal District (48%) are more likely than others to plan to take out a mortgage.

In Russia as a whole, 30% of all those wishing to take out a mortgage plan to use the basic mortgage program. Preferential mortgages are considered by 34% of respondents (the maximum share is 52% in the Far Eastern Federal District, where the mortgage of the same name operates). Of these, 55% are aimed at family mortgages. Here the leaders are also citizens aged 25 to 34 years. Among them, 63% of respondents want to get a loan under this program.

23% of all those who rely on programs at preferential rates want to take out a mortgage with state support for new buildings. Rural mortgages are of interest to 13% of respondents, Far Eastern mortgages — 5%, IT mortgages — 2%.

Mostly, Russians surveyed expect a mortgage for a period of 20 to 30 years (35% of respondents), slightly less (34%) plan to pay within the period of 10-19 years, 23% want to take out a loan for less than 10 years, another 8% find it difficult answer. Residents of the Ural Federal District are most optimistic about their plans — here the share of mortgage loans for up to ten years is 33%. The expected share of short-term loans in Moscow is also high (31%).

Mortgage is one of the most important factors supporting the real estate purchase and sale market. Many people understand how to work with this loan and are not afraid to use the tool. Moreover, we see that among those wishing to take out a mortgage, a third are counting on a preferential rate, available primarily to finance the purchase of a primary home. It is possible that the share of preferential mortgages will be even higher — some of those who have not yet decided on the program will rush to apply for a loan before the changes in the market coming in the second half of the year. Regardless of the type of housing, when planning a purchase, it is important to choose the most comfortable loan terms for the borrower. Avito, as a platform for searching for real estate, offers free assistance in selecting and approving a mortgage. The user fills out a single questionnaire, which is sent to all selected banks. Some of them offer a discount on the rate if you submit an application on the platform. After sending the application, a decision comes from the banks within a few hours, and what is important is that it will be final, — comments the head of the business direction “Mortgage, insurance and transaction services” Artur Akhmetov.

The researchers also asked those who are not yet planning to purchase real estate (68% of all respondents) what led to such a decision. 54% of them answered that they already owned an apartment or house, 36% reported insufficient funds, and 12% said that they were thinking of purchasing housing later. The last two answers were heard most often among respondents under the age of 24. 10% of respondents complained about high rates, and 2% of respondents complained about the impossibility of obtaining mortgage approval.

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