SberBank : on mortgage borrowers who buy single-family homes in Russia

Borrowers who take out mortgages to buy single-family homes are usually men (65%) rather than women (35%), with an average home loan size of RUB 2.2 mn, says a study by SberBank's DomClick.

In 5M2021, SberBank issued almost 2,500 single-family home loans for RUB 3 bn, which is a 3.5-fold increase y-o-y in terms of the number of mortgages and three times the amount lent in the same stretch last year. Primorye Territory, Voronezh Region, the Republic of Komi, and Moscow Region took out most of the loans.

We see Russians' interest in single-family homes go up on the back of the general mortgage rate decrease, individual housing construction programs we have launched, and some government support measures mortgage-wise. The demand for such homes has been also spurred by the pandemic as many people were free to choose where to live once they switched to home offices. Furthermore, IHCs grew more popular due to the 'dacha amnesty' bill that simplified the registration of real estate pieces you've constructed on your land plot and the plot itself. As of now, you only need to inform the authorities, while earlier you had to obtain a construction permit.

Alexander Vedyakhin,

First Deputy Chairman of the Executive Board, Sberbank

SberBank's payroll customers using the House Construction program when building a home themselves or hiring a construction company will enjoy a 9.2% IHC rate. If your house is meant as a place of permanent residence and registered with Rosteestr as second-hand real estate, it meets the terms of the lending program Move-In Ready Real Estate where the annual rate is 7.7%. The government-subsidized program Far Eastern Mortgage for single-family homes has an annual rate of 1%, while the Family Mortgage program is available at 5.3%.