In August 2020, residential buildings with a total area of 6 million m2 were commissioned in the Russian Federation, which is 4.9 % more than in August 2019 and 14.7 % more than in July this year. The growth in housing construction indicators is taking place during a record volume of mortgage lending activity in the country. In August 2020, the volume of mortgage lending increased by 38 % YoY quantitatively and by 59 % YoY in monetary terms.
In August, the banks issued 148,000 mortgage agreements worth 375 billion rubles. The amount of lending for home purchases in January-August increased by 14 YoY and amounted to 2.2 trillion rubles. According to DOM.RF, about 1.3 million mortgage loans worth more than 3 trillion rubles will be issued by the end of 2020.
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.
