Analysts reported a sharp decline in demand for family mortgages

The number of applications for mortgage loans for the purchase of apartments in new buildings in Russia dropped sharply in February. This was reported to Izvestia on February 15 by the federal company Floors.

"Compared to January of this year, the number of mortgage applications for the purchase of primary housing in Russia decreased by 46.6%, and compared to February last year — by 37.4%. Demand for market mortgages, on the contrary, increased by 10.3% compared to January 2026, and by 42.5% compared to February last year," explained Tatyana Reshetnikova, Deputy head of the mortgage department at the federal company Etagi.

The expert cited the new restrictions on family mortgages that have come into force and the large outstripping demand that has been realized in recent months against the background of their expectations as the main reasons for such a sharp decrease in the number of mortgage applications for the purchase of new buildings.

"Many of those who had previously postponed buying a home with a family mortgage accelerated and took advantage of a preferential loan before the program conditions changed. As a result, the new building market has experienced a new wave of increased demand over the past few months, and now it is cooling, the market has not yet fully felt it. The number of transactions in the primary market compared to January due to previously agreed mortgage applications decreased by only 36.2%," said Reshetnikova.

The expert explained that some of those who now want to get a family mortgage face various difficulties, which also affects the number of mortgage applications.

"Under the new terms of the family mortgage, children must be registered with the borrower parents at the same address. Not everyone has this opportunity, especially when a young family lives in rented housing," Reshetnikova cites the example.

The problem also arises with alternative transactions. When it is necessary to sell existing real estate to buy an apartment on a family mortgage, its buyers demand that all apartments be de-registered before the transaction, and this will deprive a young family of the opportunity to take out a family mortgage. In such cases, families have to either go for a discount or look for a bank with an installment payment.

"A new wave of demand for family mortgages is now provoked by the discussion of the introduction of differentiated rates. This can temporarily support consumer activity in the new building market, but it will clearly be lower than that observed at the end of 2025, and in the second half of the year demand will finally begin to shift to the secondary market," the expert concluded.

One family — one mortgage: family mortgage rules will change from February 1

Starting from February 1, 2026, the spouses will be considered a single borrower on a family mortgage.

On February 11, Russian President Vladimir Putin ordered the preparation of state programs to improve housing conditions for families, primarily with children under the age of seven. The Head of State also instructed to consider options for providing families with children with additional state support measures through full or partial repayment of a housing mortgage loan or loan in the amount of no more than 450 thousand rubles at the expense of the state in case the family has a fourth and subsequent child.

All important news is on the Izvestia channel in the MAX messenger.