Published on: 2026-09-01
Source: Central Bank of Russia – Central Bank of Russia –
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The project finance portfolio for residential construction grew by 6% (+1% the previous quarter) and reached nearly 11 trillion rubles. This dynamic is mainly due to the start of active construction after the winter period, as evidenced, among other things, by the increase in the volume of properties put up for sale.
1.2 trillion rubles were credited to escrow accounts for the quarter — 12% less than the previous quarter. The decrease is linked to unusually high sales at the beginning of the year before the tightening of the “Family Mortgage” conditions starting February 1, 2026. At the same time, the volume of receipts is close to the results of the first and second quarters of the previous year, when government support conditions remained unchanged.
Installment housing sales continue to support housing sales. The volume of unpaid shared construction participation contracts, mainly formed due to installments, has not decreased since mid-2025 and remains significant — about 1.5 trillion rubles.
The weighted average interest rate on loans to developers continued to gradually decrease (-0.03 percentage points compared to the previous quarter) and amounted to 9.9%, which is one-third less than in the corporate segment (14.7%).
Read more details in the review “On project financing of housing construction in the second quarter of 2026”.
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