Yakutia enters top 3 mortgage lending regions

Yakutia ranked among the three leading regions in mortgage lending development — the number of such loans grew by 68.6% over the year. These data are cited by analysts at RIA Rating.

First place goes to Tuva, however the number of mortgages issued there decreased by 17.7% over the year. Second place is Yamal, which recorded record growth of 71.2%, and third is Yakutia.

Over 12 months, there are nearly 25 mortgage loans per 1,000 economically active residents in the republic. At the same time, the average loan size in January–May was 5.38 million rubles ($59,200 at current rates). The share of overdue loans in Yakutia is 0.6%.

Also in the top five are Arkhangelsk Oblast and Buryatia. At the bottom of the ranking are the republics of the North Caucasus — Chechnya, Dagestan, Ingushetia. There, there is a large percentage of overdue debt, small loan amounts, and a low number of mortgages per 1,000 population.