Krasnodar, 29 September. Krasnodar krai has topped the list of southern Russian regions and has rated eighth nationwide in the volumes of issued mortgage loans, the Russian Central Bank announced. According to it, the number of mortgage credits issued in Krasnodar krai in January – July, 2020 was 23,300, to the total amount of 49.2 billion roubles, which was by 13.7% more than in the same period of last year in numerical terms, and by 24.5% more in monetary terms.
The average amount of a mortgage loan grew by 6.6% to 2.1 million roubles.
“This suggests that the mortgage loan sector in the [Krasnodar] region as well as in Russia on the whole is recovering ahead of schedule, despite the negative consequences of the epidemiologic constraints imposed last April – May,” the regional Ministry of Economy commented. “Presently it is one of the few markets that showed a considerable growth over the reporting period.”
At the same time, the weighted average interest rate for mortgage loans dropped from 9.13% down to 7.39% per annum.
The Ministry stated that it was the implementation of state-supported mortgage programs that became the main growth factor for mortgage crediting.
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