According to VTB forecasts, demand for mortgages in March will be 1.5 times higher than February figures, reports RBC Real Estate.

In the first half of the month, more than 11 thousand mortgage loans were issued for a total amount of almost three times more than during the same period in February, which the bank directly recognized as a “failure.”

“In March, the real estate market in Russia revived, which was reflected in the growth of housing lending volumes. By the end of the month, the issuance of mortgages in Russia could reach 500 billion rubles, which is more than 1.5 times higher than the result of February,” explained Head of Mortgage Lending Department at VTB Sergey Babin.

According to his assessment, the results of the year will still be more modest than in 2023.

Similar forecasts gives and “Dom.RF” – they expect a decline of 35-50% compared to last year’s record figures.