The average size mortgage loan in Russia increased by 17.3%

Средний размер ипотечного кредита в России выросла на 17,3%

The average size mortgage loan in Russia increased in January – March 2019 17.3% (in 350,6 thousand rubles) compared to the same period last year. It amounted to 2.38 million RUB These data are based on information from 4 thousand Russian creditors, reports TASS with reference to National Bureau of credit histories (NBCH).

Most of the mortgage pay in Moscow (4.68 million rubles), Moscow region (of 3.52 million RUB), Yamalo-Nenets Autonomous Okrug (2,96 million rbl.), St. Petersburg (2.94 million RUB), and Leningrad region (2.75 million RUB.)

The cost of mortgages has increased for borrowers of all ages. The most significant increase noted among the borrowers over 65 years the figure increased by 38.4% (to 228,9 thousand rubles), to 0.83 million rubles (in the first quarter of 2018 to 0.60 million rubles).

The growth of the housing loan for clients under 25 years of age was 16.8%. The average loan size for the purchase of housing among borrowers from 25 to 29 years increased by 17.9% in the category from 30 to 39 years of age – 16.7%, from 40 till 49 years – 17.2%. In the group 50 to 59 years old recorded an increase of 17.8%, and citizens in the age from 60 to 65 years increased the average loan size is 26.4%.

The greatest amount of loans for the purchase of real estate in the first quarter of 2019 took clients aged 40 to 49 years – an average of 2.55 million RUB, the smallest amount borrowed in people over 65 years – an average of 0.83 mln.

14 June, the Bank of Russia lowered the key rate to 7.5%. The head of the Central Bank Elvira Nabiullina said that the regulator’s decision will strengthen the trend to lower rates on consumer loans and mortgages.