Only up to 450,000 mortgage loans to be approved in Russia in 2015

The total amount of floor space of residences put into use in Russia in 2014 rose by 14.9% to 81 million m², which is the highest figure ever achieved in the country. It is worth noting that the previous highest yearly housing completion figure ever recorded in Russia was that observed in 1987 (72.8 million m²). In addition, the 14.9% expansion is the third best annual performance in more than two decades.
The increasing willingness of the banking industry to boost mortgage lending has encouraged residential property developers to speed up construction and administrative processes and to commission projects as soon as possible. It was, to some degree, possible to support a substantial increase in mortgage lending during a period of growing economic and political turmoil because of the very small proportion of bad mortgages in Russia.

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