Experts assessed the situation in the mortgage market after the reduction of preferential programs

From July 2024 to the end of June 2025, the volume of mortgage lending in Russia decreased by almost two times compared to the previous similar period, the volume of reduction amounted to 49.2%. This is evidenced by the results of a study conducted by experts of the analytical center "Domclick" to assess the development of the market after the abolition of preferential mortgages.

Since July 1 last year, massive preferential mortgages have ceased to operate in Russia: the State Support program has ended, which allows you to get a mortgage on new buildings at a rate of 8%. In addition, another preferential program has become more targeted, providing for the issuance of a family mortgage.

According to experts, market programs accounted for the main drop. Against the background of the increase in the key interest rate, mortgage volumes fell 2.8 times in market terms: from 1.4 trillion rubles a year before the cancellation of preferential mortgages to 490 billion.

Some of the potential mortgage borrowers have switched to buying a home without using borrowed funds. If in the year preceding the cancellation of preferential loans, the share of non-mortgage transactions in savings loans did not exceed 19%, then from July 2024 to June 2025 it did not fall below 35%. According to experts, secondary housing is in the greatest demand — its share in the first half of the year is more than 60%.

The share of government-supported programs in the volume of disbursements increased by almost 10%. If a year before the restriction of preferential mortgages, this indicator was at the level of 67%, then after it approached 77%.

According to the results of the 12-month period, new buildings remained the most popular type of housing (63.8%). Primary housing became the only type of real estate, the share of which increased in the volume of disbursements (+15.3 percentage points).