VTB: mortgage issuance in Russia for 10 months increased by 23%
According to preliminary estimates of VTB, the volume of mortgage issuances in Russia for ten months amounted to about 3.8 trillion rubles.
The indicator exceeds the result of the same period of 2025 by 23%.
In October, the housing lending market expectedly cooled down after the hype of the previous month amid changes in the conditions of the family state program. The volume of issuances for October, the bank experts estimate at 308 billion rubles. For comparison: in September, general market sales of mortgages exceeded 617 billion rubles, and a year earlier in October - about 484 billion rubles.
Structural shifts in the market have affected the distribution of program shares. At the end of October, the share of family mortgages in the market decreased to about 30% against 65% in September, and the share of state programs as a whole decreased to 47% from 71% a month earlier.
The dynamics of October is a technical restructuring of the market after the rush in demand for a “family mortgage” in September. Fundamental factors remain positive: at the end of the year, we expect the market to grow at the level of 7.5% compared to 2025. The main driver is the market mortgage. We forecast the volume of issuances on it at the level of about 2.1 trillion rubles – this will be more than twice the result of last year, said Sergey Babin, head of VTB Mortgage Lending Department.
