Increased popularity of lenient mortgages in Tomsk region by 3%
In recent months, the Tomsk region and its surrounding areas in Russia have witnessed a notable increase in demand for preferential mortgage loans. This trend is primarily attributed to a confluence of factors, including government support, economic development, and private investments.
According to the United Credit Bureau, the Tomsk region experienced a 3% increase in preferential mortgage loans issued in June compared to May. This increase is also reflected in other regions, such as Kuzbass, where the number of preferential mortgages rose by 12%, and in Omsk, where there was a decrease of 16% in the number of such loans, but the overall trend remains positive.
Experts attribute this increase to a decrease in interest rates, which has made mortgage loans more affordable for residents. As of mid-July, the average weighted interest rate on mortgages for primary housing stands at 24.5% per annum, a significant 4.52 percentage points lower than at the beginning of the year.
Nationwide, 65,370 mortgage loans were issued in June, with a total value of 289.61 billion rubles. The average check size for a mortgage loan issued nationwide in June was 4.43 million rubles.
The Tomsk region's economic growth can be attributed to several factors. The region is seeing growth in high-tech industrial zones and clusters, such as the new technology cluster focused on unmanned systems, which require housing and bring economic activity. Efforts to reduce costs for new production facilities, including preferential connection to gas networks, also bolster regional development and housing demand.
The region is also benefiting from increased private sector interest and investment, driven by innovation and import substitution initiatives. This private sector activity stimulates employment and income growth, further increasing demand for affordable housing loans.
Moreover, the expanding industries and manufacturing sectors in the region create a demand for skilled workers. These professionals often seek preferential mortgage loans to buy homes locally, contributing to the surge in demand for such loans.
In conclusion, the combination of government policy incentives, growing industrial and technological development, rising private investments, and demographic factors like increased workforce demand collectively contribute to higher demand for preferential mortgage loans in Tomsk and nearby regions. This trend is expected to continue as the region continues to attract investment and grow economically.
[1] Government support and preferential regimes: https://www.gov.ru/government/news/17218/ [2] Economic development and infrastructure projects: https://www.investtomsk.ru/en/news/11984/ [3] Demand for skilled professionals due to industrial expansion: https://www.tomsk.ru/news/2021/07/26/v-tomskoy-oblasti-v-iuny-vydano-34-tysyachi-mortzh-zayavok-na-preferentsialnye-kredity/
- The surge in demand for preferential mortgage loans in the Tomsk region can be linked to the increasing presence of private sector investments, particularly in the realm of high-tech industries and innovation, which stimulate both employment and income growth, making housing more affordable.
- In addition to the demographic factor of increased workforce demand, the trend of high demand for preferential mortgage loans in Tomsk and nearby regions can also be attributed to the underway economic growth, fueled by government support, infrastructure projects, and the rise of real-estate investment.
