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The Real Estate Market In The Russian Federation In Q1 2016

Author

Listed:
  • Zadonsky Georgy

    (Gaidar Institute for Economic Policy)

Abstract

In Q1 2016, 224,000 flats were built totaling to 15.6 mn sq. m, which constitutes 84% of the fl oor space commissioned in Q1 2015. In Q1 2016, the vol ume of land mortgage loans extended to individuals exceeded by 52.8% the volume of land mortgage loans extended to individuals in Q1 2015 and its volume came to 79.13% of the total number of mortgage loans originated in Q1 2016. In Q1 2016, credit institutions extended to borrowers 188,300 housing mortgage loans (HML) totaling to Rb 323.4 bn, which by 48% exceeded the amount of housing mortgage loans originated in Q1 2015. As of 1 April 2016, outstanding debt on HML denominated in rubles in percent to residual debt went up by 0.06 p.p. against 2015 and constituted 1.08% Average weighted rate for March 2016 on HML denominated in rubles came to 12.86% against the maximum value of 14.71% for February 2015.

Suggested Citation

  • Zadonsky Georgy, 2016. "The Real Estate Market In The Russian Federation In Q1 2016," Russian Economic Development, Gaidar Institute for Economic Policy, issue 6, pages 38-42, June.
  • Handle: RePEc:gai:recdev:recdev-2016-6-656
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    More about this item

    Keywords

    REAL ESTATE MARKET; Russian Economy;

    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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