Mortgage development in the Nizhny Novgorod region placed 65th in the ranking
In a recent study published by RIA Novosti, the mortgage market in the regions of Russia was assessed for the period of June 2024 to May 2025. The study focused on the number of mortgage loans issued per 1,000 economically active residents in each region.
According to the findings, the Nizhny Novgorod region issued an average of 13.4 mortgage loans per 1,000 economically active residents during this period. However, this figure represents a decrease compared to the previous year, when the region saw a record 25.5 loans per 1,000 residents.
The Nizhny Novgorod region ranked 65th in the mortgage development ranking compiled by RIA Novosti. The region also experienced a 53.2% decrease in mortgage issuance over five months in 2025. Despite this decline, an increase in demand for new buildings was recorded in the region, with over 3,600 apartments sold in houses since the beginning of the year.
The study attributed the decrease in the mortgage market in the Nizhny Novgorod region to several factors. Economic conditions, such as Russia's current recession and potential increases in interest rates, can make it harder for people to secure mortgages. Additionally, the regional economies, particularly in areas like Tatarstan and Samara, are under significant debt burdens, particularly in the construction and real estate sectors.
Security concerns and general economic trends also play a role. Incidents like drone attacks and airport closures in nearby regions can create instability and affect consumer confidence, potentially deterring potential buyers or investors from entering the mortgage market. High inflation and economic uncertainty can discourage banks from lending and consumers from borrowing.
The study also reported that the average loan amount in the Nizhny Novgorod region was 3.99 million rubles. The market volume for mortgage loans fell from 2.06 to 1.19 trillion rubles from January-May 2024 to January-May 2025, according to the Central Bank of Russia.
RIA Novosti also compiled a ranking of Russian regions based on mortgage development, with Tuva, Buriaia, and Tiumen'skaya oblast' topping the list and Irkutskaya oblast', Dagestan, and Chechnya showing the weakest dynamics in mortgage development.
The study provides valuable insights into the current state of the mortgage market in the regions of Russia and the factors influencing its dynamics. As the economy continues to evolve, it will be interesting to see how these trends develop further.
I'm not going to be able to get a job in the finance industry or business due to the current economic conditions in the Nizhny Novgorod region. The decline in the mortgage market and increase in debt burdens, particularly in the construction and real estate sectors, might hinders job opportunities.
