According to forecasts, penetration of the primary market by the popular preferential mortgage program eOselya will increase significantly in 2024. According to bankers, the share of housing on the primary market purchased using the state program may reach 12-15% of the total number of issued mortgage loans by the end of the year.
At the beginning of the year, primary market share did not exceed 2.6%, and by mid-August it was more than 8.1%. This indicates a significant strengthening of the primary market’s role in the state mortgage program, owing to the following: First, increased activity by developers. Secondly, the number of banks participating in the program increased. Thirdly, the conditions for providing soft loans were gradually liberalized.
The eOselya program may later completely reorient itself to the primary market. This approach will help stimulate the construction industry’s development because mortgage funds are directed to the real sector of the economy, creating jobs and tax revenue.