Mortgage lending growth reached 35% in 2023, which was a “super abnormal story.” This was stated by the director of the department of banking regulation and analytics of the Bank of Russia, Alexander Danilov. He noted that it is unlikely to be possible to maintain such a pace in 2024.
Earlier, Russian Deputy Prime Minister Marat Khusnullin announced plans to extend the Family Mortgage program. The current dynamics of housing prices is outpacing the growth of household incomes.