Mortgage
Over half of mortgages in Russia have terms exceeding 25 years.
– The share of mortgages for a period of more than 25 years in Russia increased by 10 percentage points year-on-year to 57% in the second half of 2023.
– 15% of mortgage loans were issued for a period of more than 30 years.
– The age of the borrower at the time of loan repayment is increasing, with 42% of mortgages being repaid when the borrower is over 65 years old.
– The share of mortgages where borrowers could make an initial payment at the expense of a consumer loan remained at 6.3%.
– The number of citizens with at least one more consumer loan in addition to mortgages increased by 1.1 million people in 2023.
– Macroprudential allowances were increased by the Bank of Russia since March 1, 2024 to limit risks of debt burden in mortgages.
– The number of borrowers on cash loans stabilized at 24 million people, with the average loan size decreasing.
– The number of credit card users increased by 6.6 million people in 2023, exceeding 27 million people and surpassing cash loan users for the first time.
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