Compared with the II quarter of 2007, this year, mortgage lending for the II quarter increased by 1.5 times. According to the St. Petersburg Mortgage Agency: 5574 loan had been issued from April to June, amounting to 14.6 billion rubles. In comparison with I quarter of the number and volume of mortgages has not changed, although last year for the three months the market has doubled. Central Bank, without regard to the results of certain subsidiaries, issued in the I quarter of mortgage loans worth 12.3 billion rubles. In II quarter will be about the same as predicted Anna Ivanova, Head of Public Relations of the St. Petersburg branch of the credit broker “Fosborn Home.” According to her, because of rising property prices growth growth has slowed.
During the first half of 2008, housing prices in the primary market increased by an average of 28% in the secondary – 20%. Potential in the mortgage market is high, its development impeded by the high prices and limited purchasing power, says Sergey Milutin – Head of the St. Petersburg Mortgage Agency. With the help of a mortgage loan is made about 20% of transactions involving the acquisition of housing, he estimates. The average loan amount, according to agency, is 2.54 million rubles.
Leadership is retained by the Northwest Savings Bank, a 20% increase in the number of loans for three months, and their volume – by 40%. In second place – “VTB 24”, retaining virtually unchanged their indicators. “We do not experience any difficulties with funding, in the second quarter, we experienced reduced customer flow, but by opening two additional centers and mortgage lending continue to work with existing managed to hold them “- said Tatiana Khobotova, head of mortgage and consumer crediting of the branch” VTB 24 “. But the Bank “Saint Petersburg”, who held second place, reduced the issuance of mortgage loans nearly 450 million rubles. The Bank operates in accordance with the approved development strategy and plan has now been exceeded, the press service quoted Paul Filimonenkov, deputy chairman of board of bank “St.-Petersburg”. Halved volumes of mortgages for the investment bank “KIT Finance”, has maintained a 4th place in the ranking. In St. Petersburg, the dynamics of mortgage loans has slowed, it is connected with the general market conditions, including the rising cost of housing, but Data volumes are acceptable, according to a press service Anastasia Frolov, Managing Director, “KIT Finance”. According to her, the bank determined the optimal amount that is ready to give in on mortgage loans programs, it is responsible goals, both in terms of business development, and in terms of future securitization and subsequent sale of mortgages. Banks, who have to work on the scheme of refinancing forced to cut back, said Milutin. Many banks have difficulty borrowing in international markets, so that state-owned banks that have access to cheaper resources in the domestic market are more advantageous position, says Ivanov. Banks with state capital intensified for them not only to mortgage business perspective, but also a social project, I’m sure Filimonenok. For a private bank mortgage interest only in the long term further securitization, it is unlikely that it will be possible in the next few years, he notes.