The average mortgage loan size in September reached a record 4.81 million rubles, increasing by 4% compared to August and by 16% compared to the same period in 2023. This was reported by Vedomosti, citing preliminary express monitoring data from the analytical agency Frank RG.
The surveyed banks confirmed this trend. At VTB, the average mortgage transaction amount in September was 5.22 million rubles, showing growth of 4% compared to August, although it decreased by 3% year-on-year.
“The average bill for new buildings in our bank reached 5.98 million rubles, and for secondary housing – 4.22 million rubles,” the material says.
“In Absolut Bank, the average mortgage loan amount in September 2024 was 4.8 million rubles. At the same time, for new buildings it reached 7 million rubles, and for secondary housing – 4 million rubles,” noted Deputy Chairman of the Board Anton Pavlov . He explained the difference by the effect of high rates on market programs, due to which the amount of the monthly payment limits the available loan amount.
Pavlov added that clients are trying to minimize their debt burden and are trying to make the largest part of the payment for real estate from their own funds. A representative of Bank Saint Petersburg pointed out the availability of preferential lending programs at a reduced rate on the primary market, so monthly payments are lower and the increased loan amount is more accessible.
Earlier, the head of the developer Etazhi, Ildar Khusainov, said that many of the problems of the real estate market in Russia could have been avoided if preferential mortgage programs had been cancelled three years ago. In his opinion, state support only contributed to the growth of housing prices and the decrease in efficiency in the industry.
Earlier, the district of Moscow where new buildings fell in price the most was named .