Monday, February 26, 2024
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Value down by 14%

(−30%) Housing Mortgages • RUS • Annual Change 2022/21

From January to December 2022, the number of housing mortgages issued in Russia reached 1.29 million. This represents a 30% decrease to the same period of the previous year. In December alone, the indicator increased by 8% if compared with the previous month. The total value issued since January is estimated at approximately 4.7 trillion rubles, down by 14% year-on-year.

The number of households becoming owners of new apartments and houses is a key factor shaping the demand for furniture for all residential areas in the medium term in Russia, as well as partly pent-up demand over a longer time-horizon.

We are tracking this indicator more closely, including the structure of mortgages issued by types of property and housing readiness, within our extended Market Reports.

SourceFrank RG

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Macroregional Context