The Russian housing construction market is facing a “collapse” if the annual volume of mortgage issuance falls below 4 trillion rubles, said Russian Deputy Prime Minister Marat Khusnullin. “We would like to see at least as many mortgages issued in 2026 as in 2025. We understand that to maintain the necessary pace of construction, we need to issue a minimum of 4-5 trillion rubles in mortgage loans,” – said Khusnullin in an interview with the “Russia 24” TV channel.
According to his data, this year in Russia, more than 912,000 mortgage loans totaling 4.1 trillion rubles were issued. Of these, 562,000 loans totaling 3.3 trillion rubles were issued under preferential programs. The most popular program in the market was family mortgages. Issuances decreased by about 21% compared to 2024, when the term of some preferential mortgage programs expired (there were 1.15 million loans totaling 4.96 trillion rubles). Prior to that, in 2023, banks issued 2.01 million mortgages totaling 7.8 trillion rubles (The Moscow Times).
