The Central Bank of Russia published its second-quarter 2026 review of housing construction project finance, reporting that the portfolio grew 6% from the previous quarter to nearly RUB 11 trillion, compared with 1% growth in the first quarter. The acceleration mainly reflected increased construction activity after winter and growth in housing built for sale. Escrow account inflows fell 12% to RUB 1.2 trillion following unusually high first-quarter sales ahead of tighter Family Mortgage terms from Feb. 1, 2026, but remained close to levels recorded in the first two quarters of 2025. Outstanding payments under shared construction agreements, predominantly linked to installment plans, remained around RUB 1.5 trillion. The weighted average interest rate on developer loans declined by 0.03 percentage point to 9.9%, about one-third below the 14.7% rate in the broader corporate segment.
2026-08-31Central Bank of Russia
Central Bank of Russia reports 6% rise in housing project finance to nearly RUB 11 trillion
The Central Bank of Russia reported that housing construction project finance grew 6% in the second quarter of 2026 to nearly RUB 11 trillion. Escrow inflows fell 12% to RUB 1.2 trillion, while installment-related outstanding payments remained around RUB 1.5 trillion and the average developer loan rate eased to 9.9%.