In January 2020, Russian banks issued 96 thousand mortgage loans worth 265 billion rubles.

The number of housing loans provided to citizens became a record for this month for the entire observation period.

Such data on Tuesday, February 9, were presented by experts of the analytical center "DOM.RF" and Frank RG.

“Traditionally, in January, due to the long holidays, the volume of mortgages is significantly lower than in other months.

However, January 2021 showed a result that significantly surpasses both the issuance of last January and the average monthly indicators of mortgage lending in 2019 and earlier, "said Mikhail Goldberg, head of the DOM.RF analytical center.

Compared to January 2020, mortgage lending in Russia increased by 23% in quantitative terms and by 40% in monetary terms.

As the authors of the study note, the main reason for the observed dynamics was the decrease in interest on housing loans.

Thus, over the year, the average market mortgage rates in the country fell by one percentage point and currently amount to 7.85-8.05% per annum.

Under these conditions, banks now issue about 70% of all housing loans.

In addition, when buying apartments in new buildings, there are a number of special programs, including a preferential mortgage at 6.5% per annum.

According to DOM.RF analysts, within the framework of the initiative, Russian banks have already issued more than 371 thousand loans for almost 1.1 trillion rubles.

The preferential mortgage program was launched in April 2020 and was originally designed for almost six months, but later the government extended its operation until July 1, 2021.

You can get a loan at a reduced rate when buying apartments in new buildings worth up to 12 million rubles in the Moscow and St. Petersburg agglomerations, as well as up to 6 million rubles in other regions of the country.

“Thousands of Russians have already taken advantage of the program, and many still have a chance to improve their living conditions.

In addition, the program is designed not only to ensure affordable housing, but also to support the construction industry.

The growth in demand for real estate also affects a huge number of related sectors, which has a positive effect on the economy as a whole, "Vasily Karpunin, head of the information and analytical content department at BCS World of Investments, told RT.

In addition to the launch of the preferential mortgage program, the general decline in market rates for housing loans in Russia is associated with the policy of the Central Bank.

RT was told about this by Mikhail Dorofeev, chairman of the board of the KPK Obnovlenie.

Russian banks are closely monitoring changes in the key rate of the Central Bank and, on the basis of decisions taken by the regulator, determine the level of long-term lending rates, including mortgage rates.

In 2020, the Bank of Russia reduced the rate from 6.25% to 4.25% per annum - the minimum level for the entire post-Soviet period.

At the same time, in 2021, the Central Bank may again lower the indicator, Dorofeev said.

“When the rate changes, the regulator focuses on the inflation rate.

If by summer-autumn the growth rate of consumer prices in Russia slows down, the Central Bank may consider the possibility of reducing the rate to 4% per annum, "the expert suggested.

Note that the decrease in the key rate leads not only to cheaper loans, but also to a drop in the profitability of bank deposits.

Thus, according to the Central Bank's assessment, over the past year, the maximum rate on deposits in the largest banks fell from 5.76% to 4.49% per annum.

Under these conditions, Russians began to look for alternative options for investment, including the purchase of housing.

“In Russia, the purchase of real estate is one of the traditional ways of investing money.

The demand from investors (for renting out housing) also provided a significant inflow of capital to the real estate market in 2020, ”said Vasily Karpunin.

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Against the background of lower interest rates in Russia, the size of the monthly loan payment also decreased.

This is evidenced by the data of Avito Real Estate.

In 2020, the national average dropped from 17.13 thousand to 16.88 thousand rubles.

At the same time, the cost of renting an apartment is still lower and amounts to 13 thousand rubles.

Meanwhile, as experts interviewed by RT note, taking an apartment on credit still becomes more profitable than renting a house.

So, buying real estate in a mortgage allows you to protect funds from inflation.

Moreover, the monthly payment for an apartment will not change, even if the property rises significantly.

Sberbank specialists told RT about this.

“The tenants are completely dependent on the life circumstances of the landlords.

When circumstances change for a homeowner, tenants have to urgently look for a new home and move out.

People cannot expect to spend a long time in a rented apartment, even with a lease agreement.

The impossibility of long-term planning is a decisive factor in favor of a mortgage, ”added the press service of the organization.