In the first three months of 2020, Russian banks issued more than 305,000
mortgage loans on
buying an apartment. At the same time, the total amount of issued
mortgage loans amounted to about 755 billion rubles. Thus, the issuance of
mortgages in the first quarter of this year increased by 18 percent in number and by 32 percent in volume compared to the same period last year . Such data are provided by the United Credit Bureau.
First, the regime of self-isolation in connection with the coronavirus pandemic issuing loans at
the purchase of an apartment in Russia decreased significantly less than the issuance of loans in other segments. From April 1 to April 22, the volume of issuance of
mortgages was only 2 times lower than on the same dates in March. In March, volumes exceeded March 2019 by 30 percent in number and by 45 percent in volume.
According to the Equifax credit bureau, Russian banks increased their issuance of
mortgages by 55 percent compared to the same period last year. The number of loans issued for
purchase of an apartment increased by 40 percent. Thus, 65.1 thousand
