District head: all people on board crashed helicopter in Transbaikal deadSociety & Culture October 24, 8:16
Sergey Ivanov: Russia is ready to open new page in relations with U.S. after electionsRussian Politics & Diplomacy October 24, 4:10
Qatari former Emir Sheikh Khalifa bin Hamad Al Thani dies aged 84World October 23, 23:08
Russia’s health ministry plans to build vaccines plant in EcuadorBusiness & Economy October 23, 20:19
Cygnus cargo spacecraft docks to ISSScience & Space October 23, 19:44
Whereabouts of several residents of blast-destroyed house in Ryazan not yet establishedWorld October 23, 18:50
Zakharova: no cyberattack on Russian foreign ministry’s websiteRussian Politics & Diplomacy October 23, 18:29
Russian Minister of Energy: Russia, Saudi Arabia begin new stage of energy cooperationBusiness & Economy October 23, 17:32
Russia not ready to say whether it will cut oil production or freeze itBusiness & Economy October 23, 17:29
MOSCOW, April 10. /ITAR-TASS/. Russian banks will issue at least one million mortgage loans in 2014, Vasily Pozdyshev, the director of the Russian Central Bank’s banking regulation department, told the Business FM radio station.
In 2013, according to Pozdyshev, Russian banks issued 825.000 mortgage loans.
“Today, Russia’s market of mortgage credits is estimated at 2.7 trillion roubles ($76 billion),” he said. “It accounts for about a third of all credits issued to the population by banks and about four percent of Russia’s GDP.”
The Central Bank officer noted that Russia’s mortgage market was growing rapidly. Growth dynamics in 2013 was 32.6%. “Few segments of the financial market can boast such rapid growth,” he noted, adding that the growth was taking place on despite high real estate prices and high interest rates.
The Russian Central Bank predicts stable demand for mortgage crediting and even does not rule out a further growth in the short-term perspective.
“Geopolitical risks may play in favour of mortgage lending, since it is a products that is linked to real estate,” he noted. “I do not rule out that many people might prefer to convert their savings into an initial payment for real estate, which will entail growing demand for mortgage loans.”