Mortgage Affordability in Russia Varies Widely by Region
A recent study has ranked Russian regions based on the affordability of purchasing real estate with a mortgage. The results reveal a wide disparity among the regions.
Chukotka Autonomous Okrug topped the list, with 42% of families able to afford a mortgage, paying an average of 114,200 rubles monthly. Sakhalin Oblast and Magadan Oblast followed, with 28.9% and 35.2% of families able to afford mortgages respectively, paying around 107,600 and 106,600 rubles on average.
At the other end of the spectrum, Buryatia ranked 67th, with only 11.1% of families able to afford mortgages, paying an average of 9,000 rubles. Amur Oblast and Primorsky Krai also struggled, with 14.8% and 14.1% of families able to afford mortgages respectively, paying around 106,100 and 103,100 rubles on average.
The study highlights the significant variation in mortgage affordability across Russian regions. While some regions like Chukotka and Sakhalin offer relatively high affordability, others like Buryatia face significant challenges. Understanding these differences can help inform regional policies aimed at improving housing affordability.
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