“Despite the coronavirus pandemic, 2020 was a record year for the Russian housing and mortgage market: 1.7 million mortgage loans were issued for 4.3 trillion rubles,” the report said.
As noted, the volume of mortgage lending increased by 35% in quantitative terms and by 50% in monetary terms compared to 2019.
The company explained the record growth by lowering rates on market loans and the launch of preferential programs, including mortgages for new buildings at 6.5%.
Earlier, President Vladimir Putin called for a timely response to the rise in property prices so as not to devalue the authorities' efforts to provide citizens with housing.