7 April 11:41
According to VTB estimates, in March the volume of mortgages issued on the market reached 335 billion rubles. This is 30% more than in March last year, and 15% more than in February of this year.
In total, in the first quarter, Russians took out more than 1 trillion rubles in mortgage loans from banks – 70% more than a year earlier. In March, a recovery in demand for mortgages with state support was recorded. Its share rose to 69% from 60% in February.
VTB showed leading dynamics in issuing mortgages: sales in March increased by 42% year-on-year and by 22% compared to February. At the same time, the bank’s share of loans on the secondary market increased over the month – by 12 percentage points to 40%.
“The mortgage market in March is confidently winning back the February “cooling”. We are recording a return in demand for government programs after adjusting the conditions for “family mortgages”. At the same time, clients began to more actively consider ready-made apartments at market rates, which banks have been reducing since the beginning of the year, reacting to the easing of the Central Bank’s monetary policy,” commented Alexey Okhorzin, Senior Vice President, Head of VTB’s Retail Business Products Department.
