Home loan debts growing in Tatarstan

Tatarstan has the biggest debt of home loans in the Volga area

Tatarstan residents’ debt in home loans as of 1 December 2023 was 575.4 billion rubles, Realnoe Vremya figured out after analysing the Central Bank’s data. This is the biggest indicator in the Volga area. Bashkiria (535.4 billion) is second, Perm Krai (290.6 billion) is third. The home loan debt in the Volga area in general is 3.2 trillion. A larger number in Russia was registered only in the central part — 5.5 trillion.

The total debt of natural persons’ loans in Tatarstan as of 1 December 2023 was a trillion rubles. The republic ranks first in this indicator in the Volga Federal District. Bashkortostan is second — its citizens owe 960 billion rubles. Samara Oblast is third where this indicator reaches 580 billion rubles.

It is noteworthy that the average home loan of Tatarstan residents as of 1 December 2023 is 307.7 months. In January 2019, it was 202.5 months. Bashkiria is second in the Volga area (305.8 months), Mordovia (302.8 months) is third. The average home loan in the Volga area is 299.3 months. Analysts found the longest loan term in the Southern Federal District: it is 313.3 months.

Russians’ debt reaches 17.7 trillion rubles

Russians’ mortgage debt as of 1 December 2023 was 17.7 trillion rubles. The indicator is a record high. As of 1 December 2023, Russians were to pay 13.5 trillion rubles. During the year, it rose by 30.7%. In a month, the number rose by 329.3 million rubles. In November, the sum was 17.3 trillion rubles.

At the same time, Russians owe 61.4 billion rubles as of early December last year. A year earlier, the indicator was 58.6 billion. So the debt increased by more than 5% over the year. In a month, the indicator augmented by 1.1 billion rubles. In November, the sum totalled 60.2 billion rubles.

Home loans in Russia amount to nearly 4 trillion rubles

Since 2018, the total amount of loans granted reached 28.2 trillion rubles, reads the data published by the Central Bank. The number of home loans granted to Russians in 2023 is equal to almost 4 trillion. The smallest amount was in January — 281.7 million rubles. The highest was in September — 955.3 million rubles.

Interestingly, the total number of loans consecutively grew from February to September. A fall to 769.8 million rubles a month happened in October. The average loan term increased from 187.4 months to 1 January 2018 to 299.2 months as of 1 December 2023. The average rate climbed from 9.8% to 8.18%.