Real estate: overheat instead of fall. New tracker by SberIndex.ru and Sberbank’s DomClick
Real estate prices increased by 3.0% y-o-y on average in recent two months across Russia, according to DomClick by Sberbank. On the primary market, the metric added 6.2% y-o-y.
Tourism regions with the highest price increases are Khabarovsk Territory (18.9% y-o-y), Kaliningrad Region (18.0% y-o-y), and Altai Republic (17.6% y-o-y)
Changes in the number of new mortgages in July-August were close to the record results as the mortgage interest rates were dropping. The number of mortgage loans provided is growing by 44% y-o-y, according to SberIndex analysts.
The driving force is the primary market that has become the main beneficiary of the stimulus measures.
The share of new homes in the post-pandemic mortgage deals increased to 31%. In 2019, only one-fifth of the deals were signed on the primary market.
After the pandemic, almost half of the approved mortgage applications to DomClick were submitted online, according to the Open Data analytical project.
Developers saw incoming payments grow by 6% y-o-y in August, compared to 2019.
The demand for DIY goods (+2.0% y-o-y), furniture and interior decoration items (8.5% y-o-y), and the repair services rose proportionally (8.6% y-o-y).
More details in our tracker.
SberIndex.ru is an analytical website by Sberbank that illustrates how life in Russia has changed during the COVID-19 pandemic. Today, you can find three key indexes on the website, all of them based on anonymized data. These are an incidence model, the consumer activity index, and consumer activity changes. The all-new Business section features the evolution of gross payroll and change in small business activity. The website also has other studies, including all SberData lab ones (former SberData).
DomClick by Sberbank is a service to look for real estate, check it, and sign secure deals.
DomClick.ru website and mobile app let you resolve any real estate issues online, such as buying, selling or renting, applying for a mortgage, registering a deal in the electronic form and making secure transactions between buyers and sellers while going to the bank only once.
More than nine million people use the service every month, and it is among the top most visited real estate venues in Russia.