“The average term for which banks issue a mortgage at the moment is 17 years, while at the beginning of 2018 it was fixed at 14 years,” the report said.
The average mortgage loan in August 2019 amounted to 2.5 million rubles, which is 10% higher than the figure for the same period last year.
Analysts also recorded an increase in the monthly mortgage payment. Compared to 2018, it grew by 12% - up to 28 thousand rubles.
In early September, Russian leader Vladimir Putin called for a further reduction in mortgage rates in Russia.