Family Mortgage Share In Astrakhan Region Reaches Nearly 90 Percent

Family mortgage loans now account for nearly 90% of all mortgage issuances in the Astrakhan region, the highest share among Russian regions, according to data from the Domclick service.

Photo: Pravda.Ru by Marina Lebedeva is licensed under Free for commercial use

Family mortgage

The trend is concentrated in southern territories. Along with Astrakhan, the Krasnodar Territory and Rostov Region recorded the highest reliance on this specific subsidized program.

The data show a strong concentration of subsidized credit use in the south, where the majority of mortgage borrowers rely on family-based preferences rather than standard market terms.

In the Astrakhan region, the total mortgage market volume grew by 27.4% during the first five months of the year compared to the same period last year. The average loan amount in the region was 4.42 million rubles, closely aligning with the national average of 4.45 million rubles.

Simultaneously, the price of new housing in Astrakhan has declined. According to Sberbank mortgage transaction data for regional centers, the cost per square meter on the primary market fell by 5.6% since the beginning of the year.

Regional economist Valeriy Kozlov stated that the dominance of family programs in southern territories of Russia is linked to demographic factors and the local market's dependence on subsidized lending. He noted that the drop in new building prices in Astrakhan may be a reaction by developers to shifting demand and the need to stimulate sales under new mortgage conditions.