Translation. Region: Russian Federal
Source: Central Bank of Russia –
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The growth of the housing construction project financing portfolio in the second quarter amounted to 0.7 trillion rubles (0.4 trillion rubles in the previous quarter). Loan issuances increased slightly due to the launch of new projects, while repayments, on the contrary, decreased due to a slowdown in the commissioning of buildings.
Project financing provided about 60% of the total growth of the corporate loan portfolio for the quarter. Developers' debt at the end of the second quarter exceeded 9.3 trillion rubles (48% of the banking sector capital).
Sales of apartments under equity participation agreements in construction in value terms decreased slightly (-6%, to 1.3 trillion rubles). At the same time, receipts to escrow accounts remained at the level of the first quarter (1.1 trillion rubles). The difference between sales and receipts is mainly due to the provision of installments. At the same time, the volume of sales by installments is slightly higher than can be judged by this difference, since part of the receipts to escrow accounts are payments on previously taken installments.
The average weighted rate on the project financing portfolio increased to 10.7% per annum (0.4 percentage points per quarter), but remains significantly lower than the average lending rate in the corporate segment (18.9%).
Read more in the review "On project financing of housing construction in the second quarter of 2025".
Preview photo: Evgeny Messman/TASS
Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.
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