Post: The average mortgage maturity in Russia exceeded 24 years for the first time

The average mortgage maturity in Russia reached a historic maximum of 24.1 years in December.

MOSCOW, January 30 – RIA Novosti/Prime. According to the results of December, the average mortgage maturity in Russia reached a historical maximum of 24.1 years, following the Central Bank data.

According to the regulator, the average maturity of housing loans issued by Russian banks in December increased by 5.9 months to 289.4 months, a record level since at least the beginning of 2018 (the Central Bank does not disclose earlier data). .

Average mortgage maturity increased by 32.3 months, or 2.7 years, during the year, while the average maturity increased by 32 months in 2021 and just 10 months in 2020.

At the same time, the number of mortgages issued in December increased by 36.8% to 176.2 thousand, the highest since December 2021. The average mortgage size at the end of last year increased to 3.95 million rubles compared to 3.65 million rubles a month ago and 3.3 million rubles at the end of 2021.

Overall, 1,327 million housing loans worth 4.8 trillion rubles were issued in 2022 compared to 1.9 million loans worth 5.7 trillion rubles in 2021. Thus, the number of loans granted in 2022 decreased by 30% and the total volume by 15.5%.

Source: Ria

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