Russians began to take loans secured by real estate en masse

The volume of loans issued against real estate in ruble terms in Russian banks in 2024 increased by more than 45% year-on-year, the IT company TYMY told Izvestia.

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Most often, in 94-95% of cases, according to SaaS platform partners, Russians provide an apartment to the bank as collateral. In 3-4% of cases, commercial premises become collateral, about 1-2% are apartments, and no more than 0.5-1% for parking spaces and other non-residential premises.

As for the purpose of lending against the security of real estate, the share of these or those options depends on the policy and product line of a particular bank. Most often Russians take such loans to make repairs, repay debts or to close loans with a higher rate, get money for the down payment on the mortgage.

Read more in the exclusive material of Izvestia:

Walls help: Russians have become more likely to take loans secured by real estate