Omsk mortgage demand spike explained by economist
Government-subsidized mortgage programs make home loans significantly more affordable for eligible residents.
In the first five months of 2026, Omsk residents took out 61.8% more mortgage loans than in the same period in 2025. Maxim Mizy, an associate professor at the Department of Economics and Labor Organization at Omsk State Technical University (OSTU), explained to NGS55.RU what is driving this trend.
According to the specialist, the sole reason is the possible cancellation of subsidized mortgage programs. Omsk residents decided to take out loans while they could still get relatively favorable terms.
«Talk of the end of subsidized programs has led people to once again try to jump on the mortgage bandwagon. No one will take on debt at market rates. At the end of last year, when it was said that Omsk residents would not be able to get subsidized mortgages, for example in Moscow, there was a surge. Now there has been a surge. It is related to the fact that from July 1, the non-differentiated family mortgage was supposed to be canceled. This cancellation has been postponed to the fall, so there will be another surge in the fall,» the economist is certain.
According to Maxim Mizy, changes in the key rate do not significantly affect the growing demand for mortgages. Omsk residents do not expect a major reduction.
«Such sentiments are absent now. Few are expecting a key rate cut anymore.»
