Template-Type: ReDIF-Article 1.0
Author-Name:Zadonsky Georgy
Author-Name-First: Georgy 
Author-Name-Last:Zadonsky 
Author-Workplace-Name: Gaidar Institute for Economic Policy 
Title: The real estate market in the Russian Federation in H1 2016 
Abstract: As for 1 August 2016, since the turn of the year 521,600 apartments were built totaling to 37.2 mn sq. m, which constitutes 92.6% of the floor area commissioned during the same period of 2015. Decline in the volumes of commissioned housing in 2016 was owing, first of all, to a reduction of housing floor area constructed by individuals. In H1 2016, the number of registrations of land mortgage loans extended to individuals exceeded by 33.6% the number of registrations of land mortgage loans extended to individuals in H1 2015 and constituted 79.02% of the total number of mortgages extended during 2016. In H1 2016, credit institutions issued 389,800 housing mortgage loans (HML) totaling to Rb 664.5bn, which by 44.2% exceeded the amount of housing mortgage loans originated in H1 2015. As of 1 July 2016, outstanding debt on HML denominated in rubles in percent to residual debt went up by 0.03 p.p. against 2015 and constituted 1.11%. Average weighted interest rate for June 2016 on HML denominated in rubles came to 12.99% exceeding by 0.48 p.p. interest rates of February 2016.
Classification-JEL: G21,  K11, L74,  L85,  R14,  R21 , R31,  R52  
Keywords:  REAL ESTATE MARKET, Russian Economy 
Year: 2016
Issue:9
Month: September
Pages: 22-27
File-URL: https://iep.ru/files/RePEc/gai/recdev/recdev-2016-9-719.pdf
File-Format: application/pdf
File-Function: Revised version, 2016
Handle: RePEc:gai:recdev:recdev-2016-9-719