Bank DOM.RF: Russia’s mortgage market falls by 15% in April

MOSCOW, May 15 (PRIME) – Russia’s mortgage market fell by 15% in April mainly because of the lockdown regime, CEO of Bank DOM.RF, the bank of Russian national housing development institution DOM.RF Artyom Fedorko said in an online conference on Friday.

“Preliminary data showed a slight contraction of the mortgage market. The mortgage market lost probably about 15% in April. This is connected to the lockdown regime in the first place and due to the difficulties of registration of these deals through multifunctional centers and the federal register, but the situation is improving now,” he said.

But Russian mortgages are now most affordable creating reasons to believe that the market will continue growing, he added.

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