MOSCOW, July 1. /TASS/. Mortgage disbursements in Russia may drop by a half in the second half of 2024 amid the end of subsidized mortgage lending for new developments, head of DOM.RF analytical center Mikhail Goldberg told reporters.

"We expect 1.3-1.4 mln mortgage loans totaling about five trillion rubles ($55.8 bln) will be disbursed over the year in total. In general, this will be approximately 35% lower than in 2023. However, one should understand that the second half of the year will be indeed much smaller than the second half of the prior year, and the decline will be about a half," the expert said.

According to preliminary results of the first half of 2024, more than 700,000 mortgage loans amounting to 2.8 trillion rubles ($31.8 bln) were granted in Russia, Goldberg added.

The subsidized mortgage lending program for housing in new development projects at the rate of 8% that was launched in 2020 ended on July 1 of this year.