Bashkiria hit Top 10 in Russia in terms of mortgage lending in 2021

In Bashkiria, in 2021, banks provided 68.2 thousand mortgage housing loans (110.1% compared to 2020) for a total amount of 159.2 billion rubles - 25.5% more than in 2020. The weighted average interest rate on mortgage loans amounted to 7.64% - by 0.13 p.p. below 2020 levels.

Mortgage rates were supported by state programs: preferential mortgages for new buildings, family mortgages, rural mortgages, a program for paying subsidies to large families to pay off mortgage debt, the Ministry of Construction RB noted.

 In terms of the volume of newly issued mortgage housing loans, the Republic of Bashkortostan, at the end of 2021, ranked second in the Volga Federal District and eighth in the Russian Federation.

Under preferential mortgages for new buildings in Bashkiria in 2021, 7,462 loans were issued for 17.2 billion rubles (11th place in the Russian Federation and 2nd place in the Volga Federal District). In 2021, 3,171 loans were issued for family mortgages of 7.8 billion rubles (10th place in the Russian Federation and 2nd in the Volga Federal District).

Also, Bashkiria has become a leader in rural mortgages and in the program to support large families with mortgage arrears. In 2021, under the rural mortgage program, 3,003 loans were issued for RUB 5.9 billion. The issuance volumes increased compared to 2020 by 12% and 7%, respectively. In 2021, 5,646 large families from the republic (164% by 2020) received subsidies to pay off mortgage debt of 2.5 billion rubles (4th place in Russia and 1st in the Volga Federal District), which is 65% more than in 2020. Over the entire period of the program (2019-2022), 11,020 large families from the republic received 4.9 billion ruble subsidies (3rd place in Russia and 1st in the Volga Federal District).