Major banks increased mortgage portfolio by 1% in January

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AK&M 19 February 2021 23:45

In January 2021, the mortgage portfolio of the largest Russian banks increased from 1% growing by 3% monthly in September-December 2020, according to information from the Bank of Russia.

In view of the Central Bank, the weaker demand for mortgage loans results from the January holidays and growing real estate prices. In 2020, prices increased by 12% in the new homes market, by 9.5% in the existing homes market.

The Bank of Russia expects mortgage lending in Russia to continue growing after a modest increase in January.

On March 26, 2021, Moscow will host the 19th All-Russian Mortgage Lending Conference. This year's topic is "Affordable Housing Market in the Post-COVID Time."

The conference will bring together representatives of relevant government entities, major Russian banks, mortgage agencies, construction and development companies, IT developers, insurance and valuation companies.