russia Seeing a Record Level of Troubled Mortgages

​​​​​​​The volume of troubled mortgages is growing rapidly in russia: the share of housing loans with overdue payments has risen to its highest level in recent years.

The reason for this is the mass issuance of preferential mortgages in 2023–2024 to borrowers with high debt burdens and the sharp rise in the key interest rate. The amount of overdue debt has already exceeded 170 billion rubles, which is a historic high.

The highest levels of delinquency are in the North Caucasus, in particular, in Ingushetia, it reaches 11 %. Since spring 2024, the troubled debt has increased threefold.

russians are finding it increasingly difficult to make payments due to inflation and falling incomes, while banks and developers have artificially propped up the market by selling homes to people without real financial means. The mortgage market in russia is rapidly deteriorating, and this is just the beginning of the crisis.