In the first nine months of 2020, the volume of housing mortgage lending increased by 37.6 % compared to January-September last year, up to RUB 2.7 trillion. The same indicator in September increased by 28.4 % MoM and 2.1 times YoY, to RUB 503.5 billion.
The volume of loans for developers who use escrow accounts and operate under co-investment agreement in January-September 2020 increased four times compared to January-September 2019, up to 1.9 trillion rubles.
In total, 1912 loan agreements were concluded with developers over the same period, which is 4.4 times more than in the nine months of last year. The number of escrow accounts increased 4.2 times, up to 215,806.
Earlier it became known that the Government of the Russian Federation made changes to the construction section of the national action plan for economic recovery. According to the changes the government will allocate an extra of RUB 7.6 billion in 2021 to finance a mortgage rate decrease, providing a total of RUB 12.6 billion for the matter.
In early October, DOM.RF Bank increased the amount of financing for developers on its side, providing extra RUB 400 billion. Earlier it became known that the Government of the Russian Federation plans to complete the implementation of the national project "Housing and Urban Environment" no earlier than 2026. According to the national project, the area of housing being commissioned should increase to 120 million m2/year. The project was originally planned to be implemented in 2024.
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