All news
Why the number of borrowers under 25 has increased in the regions, but dropped sharply in Moscow
In agglomerations and provinces, the share of young borrowers (aged 18 to 25) in the structure of mortgage lending in the second quarter was 5%. Est-a-Tet analysts calculated that in the third quarter this figure fell to 1%. And this is despite the fact that both the number of transactions (due to rising interest rates) and the share of mortgages (in "old" Moscow, for example, the share of mortgage transactions fell from 16.9% to 55.5%) have generally decreased. In the third quarter, more than half of borrowers (52%) are in the 35-45 age group, while their share in transactions for the quarter increased by 5 percentage points, experts note.
Yaroslav Bayurak, managing director of the financial market Vyberu.ru, confirmed that in Moscow there is indeed a significant decrease in the number of young people among potential borrowers. In the third quarter, the market share fell from 5% in the second quarter to 2%. At the same time, in other parts of the country, the share of potential borrowers under 25 was higher - about 7% in the second quarter and even rose to 8% in the third quarter, says Bayurak.
The number of borrowers under 25 in Russia has increased, but in the capital it has sharply decreased.
According to Est-a-Tet, the decrease in the share of young borrowers in Moscow is explained by several factors. In particular, this is an increase in the size of the down payment for several mortgage programs (objectively, young people cannot save larger amounts, especially given the prices for housing in the capital). The departure of IT mortgages from the Moscow market - many young borrowers fell into the category of IT specialists. "Indeed, this category of borrowers forms a significant part of the deferred demand, who save or wait for more or look for alternative ways to solve current housing problems (for example, switching to rental housing). Affordable mortgage products," say experts.
Badzhurak also believes that the decrease in the number of young people among the capital's mortgage borrowers is explained by the deterioration of mortgage conditions for IT specialists. "It is no secret that the greatest demand for preferential programs for employees of IT companies arose in Moscow, where the largest number of such companies are registered. In addition, from August 1, the issuance of preferential mortgages will be excluded from the terms of the program. We provide loans to borrowers working in Moscow companies," he explains.
Changes in preferential mortgage programs are the reason why, at the same time, the share of young borrowers is increasing in other regions. The president of the SRO "Regional Association of Appraisers" says that the group of young borrowers in the capital is also being cut off, since the most common preferential mortgage (now "family mortgage") requires a young couple. , Professor Kirill Kulakov, National Research University MGSU. And the average age of a mother giving birth to her first child is currently 26 years old.
At the same time, according to Bajurak, residents of small towns start families earlier and, accordingly, begin to feel the need for separate living space earlier.
Residents of small towns start families earlier and need separate living spaces earlier.
The increase in the number of young mortgage borrowers in the region reflects the economic situation in many regional cities, where industry is reviving and there is a demand for young workers, supported by rising salaries, says Alexander Tsyganov, professor at the Financial University. This means that young specialists are starting to work in companies in the region, prospects are emerging, and families are starting to plan their future and the birth of children in their home city, rather than trying to move. We also need to recognize the impact of family mortgages becoming more accessible to young families, he adds.
"Of course, there are downsides: young borrowers are not yet accustomed to living independently and planning a family budget, they often lack financial knowledge and experience, so their credit risk is still high, and lenders should take this into account." Tsyganov. "Mortgage lending for the further development of young people should be based on an analysis of the current loan portfolio and adjustment of the terms of issuance in the event of possible problems being identified."
Mass mortgage lending for new buildings without age or geographic restrictions ended in July of this year after four years. In the summer, the conditions for other participants in the preferential program changed. Therefore, now only families with preschool-age children can buy an apartment throughout Russia with a “family mortgage,” and families with two minor children – only in some regions and small cities. But even with a child, it was not easy for young couples to get a “family mortgage” last quarter. Initially, the program was terminated due to a change in conditions, and then due to a lack of bank financing.