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Mortgage market grows by more than 60% in Dagestan

30 April 2018 01:23 Posted in:  BUSINESS
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Makhachkala, April 30, 2018. In the first quarter of 2018, the residents of the republic received 1.7 billion rubles of mortgage loans, which is 63.6 percent more compared to the same period of the last year. According to the source, the number of loans grew by 39.8 percent and reached 734 units.

"The mortgage market boom has been fueled by an improvement of bank lending conditions, particularly the interest rates. If, as of April 1, 2017, the interest rate on mortgage loans in rubles provided to the residents of the republic amounted to 12 percent, then for the same period of 2018 it decreased to the level of 9.7 percent.

Due to intensive market growth, the share of mortgage loans exceeded one third of the retail portfolio (38.2 percent or 17.7 billion rubles).



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