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Mortgage In The Russian Federation In H1 2015

Author

Listed:
  • Georgiy Zadonsky

    (Gaidar Institute for Economic Policy)

Abstract

In January–August 2015, 40.01 million m sq. of housing was constructed up 9.25% compared to the corresponding period of the previous year. Average actual construction cost of a square meter of residential housing in H1 2015 down 9.83% against H2 2014 and amounted to Rb39.44 and ration between the cost of a square meter of fl oor area on the primary housing market and the construction cost of a square meter up 6.48% for the same peri-od and came to 132.35%. In January–July 2015, 3338,569 housing mortgage loans (HML) totaling Rb557461bn were originated which was 60.12% lower in monetary terms against the same period of 2014. The ruble stale debt on HML as of 1 August 2015 amounted to Rb34.86bn. At the same time, its share in the residual debt up 0.1 p.p. against 1 August 2014. According to CBR, in July 2015, HML average rate extended over a month in rubles fell ag ainst its maximum value of 1 March 2015 by 1.27 p.p. to 13.44%.

Suggested Citation

  • Georgiy Zadonsky, 2015. "Mortgage In The Russian Federation In H1 2015," Russian Economic Development, Gaidar Institute for Economic Policy, issue 10, pages 48-52, October.
    • Handle: RePEc:gai:recdev:601
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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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