OREANDA-NEWS  The volume of overdue mortgage debt in Russia increased by six percent in September to more than 80 billion rubles, RIA Novosti reported, citing analysts at Cyan.

This is the highest figure in the history of the domestic mortgage lending market. In total, 94.3 thousand mortgages were issued in Russia in September. The figure was six percent less than in August. Debt has increased both in the primary market and in the secondary market. Its share in total debt also increased, amounting to 0.17 percent in the new construction market and 0.5 percent in the secondary market in September.

The total amount of mortgage debt as of September amounted to 19.3 trillion rubles, almost unchanged from June. At the same time, the volume decreased in the segment of new buildings and increased in the secondary market and in the field of individual housing construction (IHS).

Analysts were alerted by the rapid growth in the volume of overdue debt — despite the fact that the share of arrears is currently insignificant in comparison with the total amount of debt. In 2022-2023, the amount of debt remained almost unchanged, and its share decreased until the beginning of 2024. In the current year, the share of delays in the primary market has been growing since the beginning of the year, and in the secondary market since April, experts noted.

Earlier, Muscovites were given a comfortable salary for mortgage payments. The family needs to earn at least 460 thousand rubles a month, said Anatoly Pysin, General Director of the real estate agency Central Department of Real Estate (CDN). This income should be provided that residents of the capital buy a two-room apartment for 15 million rubles with a down payment of 30 percent and are going to pay off the loan for 25 years.