The growth rate of the mortgage market next year should slow down, decreasing by 58 percent against the background of growth last year. Such data are obtained by the rating agency “Expert RA”. The slowdown in the growth rate of the market was recorded last year. If, according to the results of 2010, the growth of this market amounted to 149 percent against the background of 2009, then in 2011, against the background of 2010, the market will grow only 75 percent. The slowdown in the growth rate of the mortgage market occurred due to its saturation in 2010, also among the reasons for the decrease, one can also be considered that the volume of input of new housing is also reduced. Due to instability in the global economy, currency loans are of key risk today, which account for about 12 percent of the total mortgage portfolio.
“Despite the fact that the mortgage market has returned to pre -crisis indicators, the trend to reduce the growth rate remains a negative factor, the same as the Russian mortgage market against other countries remains quite small,” says Pavel Samiev, deputy general director of RA RA. According to the forecasts of this company, the mortgage lending market next year should grow by approximately 55-60 percent and thereby reach a mark of one trillion rubles. At the same time, in some regions, the growth of mortgage lending against the background of the fall of the volume of new housing may turn out to be a source of another price bubble in the residential real estate market.
According to Natalya Karaseva, director of the retail mortgage lending department of Sberbank, their bank is ready to redeem from other financial and credit institutions the requirements under mortgage contracts. “Last week, we have already made public the fact that we are ready to redeem the claims on loans, which are concluded according to the current standards of our bank,” RIA Novosti quoted Karasev as saying to Karasev. She noted that this proposal is mainly focused on small credit institutions that are currently experiencing difficulties with liquidity. It can be assumed that such actions of the largest bank in Russia are aimed just to stimulate the development of mortgage lending and in the future, since, helping small financial and credit institutions, you can create a bridgehead for the development of their mortgage programs. Namely, this will be able to aggravate competition, since, according to experts, the prospects for the development of a mortgage in the country are determined precisely by competition among the participants in the mortgage market.