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Housing Mortgage In The Russian Federation In H1 2013

Author

Listed:
  • Georgiy Zadonsky

    (Gaidar Institute for Economic Policy)

Abstract

In Q2 2013, the monthly weighted average interest rate on ruble-denominated housing mortgage loans was no longer on the rise, after a more than year-long period of growth: the interest rate for June was 12.6% against its record high of 12.9% in March 2013. The volume of housing mortgage lending in Q2 2013 amounted to Rb 315.5bn, which is by 26.63% higher than the volume of similar loans granted over Q2 2012. The share of outstanding ruble-denominated debt against housing mortgage credits relative to the sum of residual debt continues to be on the decline (1.24% as of 1 July 2013 against 1.41% as of 1 April 2013.); the same is true with regard to the corresponding share of outstanding debt denominated in foreign currencies (12.45% as of 1 July 2013 against 11.78% as of 1 April 2013.). The share of debt against defaulted housing mortgage credits (HMC) (with payments overdue for periods over 180 days) in the sum of total debt denominated in all currencies shrank to 1.15%.

Suggested Citation

  • Georgiy Zadonsky, 2013. "Housing Mortgage In The Russian Federation In H1 2013," Russian Economic Development, Gaidar Institute for Economic Policy, issue 9, pages 37-39, September.
    • Handle: RePEc:gai:recdev:200
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    More about this item

    Keywords

    : REAL ESTATE MARKET;

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • K11 - Law and Economics - - Basic Areas of Law - - - Property Law
    • L74 - Industrial Organization - - Industry Studies: Primary Products and Construction - - - Construction
    • L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services
    • R14 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Land Use Patterns
    • R21 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Housing Demand
    • R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Housing Supply and Markets
    • R52 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Land Use and Other Regulations

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