According to DomClick, SberBank issued 2.1 times more mortgages cumulatively and 70% more qualitatively between January and June 2021 than in the same period the previous year. In the first half of 2020, over 299,200 mortgages amounting to RUB 632.5 bn were issued, while in the first half of 2021, those figures were 507,100 and RUB 1.3 tn.

We saw stable demand for mortgages from Russians in the first half of the year. This was due to preferential programs and advantageous rates in all housing loan segments. The volume issued on the primary market increased by 2.5 in money terms. SberBank issued 133,600 loans amounting to over RUB 440.3 bn. The volume of loans issued for completed housing almost doubled - 357,200 loans amounting to RUB 861.4 bn. Q1 and Q2 were characterized by increased demand, which was related to anticipation and then the announcement of parameter changes for the state support program launched in 2020.

Nikolay Vasyov

Vice President of Sberbank, Director of the DomClick Division

According to Vasyov, the bank has noted demand for mortgages for individual housing constructions (IHC). January-June 2021 saw almost 3,200 loans issued, amounting to RUB 7.6 bn, which is 3.5 times more qualitatively and 4.1 times more in money terms than in the first half of 2020.

SberBank has recorded a rise in interest from Russians in individual houses and property in the countryside, which only increased during the pandemic and enforced self-isolation period. The overall growth in demand for mortgages, the launch of IHC programs, and state support measures in the segment contribute to the increase.

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Sberbank of Russia published this content on 08 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 July 2021 16:23:31 UTC.