In September 2022, residents of the capital concluded 4.8 thousand contracts under the program of preferential mortgage for 42.7 billion rubles. Compared to the same month last year, this volume increased 17 times and became a record since July 2021, said Deputy Mayor of Moscow for Economic Policy and Property and Land Relations Vladimir Efimov.

“The demand for preferential mortgages in the capital has been growing since the spring of this year. This is due to lower rates, higher credit limits and the possibility to combine the preferential program with market loans. In September, the volume of preferential mortgage lending reached 42.7 billion rubles, 17 times higher than in the same month in 2021. Moscow retains the leading position in the issuance of such loans among Russian regions: in September, the capital accounted for 26 percent of the total amount of concessional mortgage loans in the country,” said Efimov, whose words are quoted by the press service of the Department of Economic Policy and Development of Moscow.

High growth rates of preferential mortgage lending are maintained in Moscow for several months in a row. Thus, in May the volume of loans issued tripled compared to April – up to 23 billion rubles, in August borrowers approved loans for 40 billion rubles.

In the first nine months of this year in the capital issued favorable mortgage loans for 188.5 billion rubles, which is 16% less than in the same period last year. From June 2021 to May 2022, during the period of increasing the rate on preferential mortgages, the demand for loans decreased, the volume of issuance decreased. Meanwhile, after reducing the rate on the preferential program to 7% and increasing the limit to 12 million rubles, the demand for these loans has increased significantly, and the volume of lending continues to grow for the eighth month in a row. In total in the capital since the beginning of the program in April 2020 issued preferential mortgage loans to the amount of 697 billion rubles – this is 25.3% of the national figures.