Photo: Vitaly Timkivi / RIA Novosti
Afford to service a mortgage, spending no more than a third of their income may more than 40 percent of Russian families. It is reported TASS with reference to Chairman of the management Board of the Bank BUILDING.Russian Artem Fedorko.
“Mortgage portfolio [Russian banks] continues to grow at a solid pace, growth this year will remain at 25 percent per year. The availability of mortgage lending in Russia is high (…) already, more than 40 percent of families can afford to take the mortgage and service a mortgage,” said Fedorko, adding that this figure corresponds to the level of Germany, Canada and the United States.
To accomplish the President’s goal for increasing the share of families who can take advantage of affordable mortgage, is required annually to issue 2.3 million of mortgage loans, said Fedorko. “[This] mortgage portfolio is expected to grow from the current of 6.9 trillion to about 18-20 trillion by 2024, i.e. almost three times. We see that banks in General are ready for this,” he added.
Earlier, analysts of the company “Metrium” published data showed that the figures for the mortgages in the first quarter of 2019 was much more modest results of the same period of 2018. Statistically, the company from January to March 2019 the Russians endorsed by 68 percent fewer loans than a year earlier.
According to statistics mortgage Agency “World” in January 2019, only seven percent of Russian families can afford to improve housing conditions on their own resources or with the involvement of a housing loan. Thus the need for such an improvement not less than 60 percent of households in the country.
Video, photo All from Russia.