In 2022, Russia maintained a high demand for real estate and the banking services pertaining to the issuance of housing (mortgage) loans. The main driver of market development, just as it was during the period 2020–2021, remained the government-funded mortgage programs offering relatively low...

On the back of the lending market interest rate cuts and implementation of the subsidized mortgage program (mortgage loans at the interest rate of 6.5% per annum for home buying on the primary housing market), real-estate market demand picked up. In Q1-Q3, 2020, banks increased substantially...