Template-type: ReDIF-Article 1.0
Author-Name: Sergey A. Zubov 
Author-Workplace-Name: Russian Presidential Academy of National Economy and Public Administration
Title: Mortgage Lending in 2022
Title: Ипотечное кредитование в 2022 г.
Abstract: In 2022, Russia maintained a high demand for real estate and the banking services pertaining to the issuance of housing (mortgage) loans. The main driver of market development, just as it was during the period 2020–2021, remained the government-funded mortgage programs offering relatively low interest rates. At the same time, over the course of last year, in the situation of unsatisfied demand, there emerged joint schemes of banks and real estate developers in the form of almost interest-free mortgage loans to finance the purchase of an overpriced home. The widespread use of such products has forced the RF Central Bank to resort to constraining measures against mortgage loans with extremely low interest rates, which it plans to implement in 2023.
Keywords: mortgage lending, subsidized mortgage programs, mortgage lending market overheating
Classification-JEL: E58, G21, G28
Journal: Russian Economic Developments
Year: 2023
Issue: 4
Month: April
Pages: 53-56
File-URL: http://www.iep.ru/files/RePEc/gai/recdev/r2332.pdf
File-Format: Application/pdf
Handle: RePEc:gai:recdev:r2332