Mortgage lending in Russia has significantly decreased, primarily due to the cancellation of mass subsidized mortgage programs and high interest rates. Data from the United Credit Bureau (OKB) reveals a 33% drop in subsidized mortgage lending in the first four months of the year, totaling 722.5 billion rubles.

The average size of a subsidized mortgage loan increased by 5% in April, correlating with rising real estate prices. The average loan term has also extended to 308 months (25 years and 8 months).

Deputy Prime Minister Marat Khusnullin stated that the return of mass subsidized mortgages is unlikely due to budget limitations and concerns about driving up housing prices, referencing negative experiences from past years.

Kirill Kulakov, a professor at Moscow State University of Civil Engineering (MGSU), suggests that housing accessibility will remain a challenge for at least 2–3 years. He points to high housing prices, expensive mortgages, and low incomes as contributing factors. Kulakov recommends reducing the Central Bank’s key rate and supporting wage growth to improve affordability.

Oksana Ivanova, Chief Operating Officer of Genesis Group Real Estate Agency, argues that purchasing housing is still possible through various tools such as family mortgages, regional programs, and developer discounts. She notes that demand has shifted, and encourages finding solutions tailored to specific situations. Ivanova anticipates a potential decrease in rates within the next 12–18 months, contingent on inflation stabilization and macroeconomic conditions.