In the study, experts from the Domclick Analytical Center and SberMarketing assessed how familiar young people under 25 are with various federal preferential mortgage lending programs.
Awareness and Demand
Young people are generally well aware of the existence of federal preferential mortgage lending programs: 83% of respondents have heard of at least one of them.
As for the demand for mortgages in general, the category of borrowers under 25 is not decisive: this year, the share of borrowers aged 18 to 25 accounted for about 9%.
Evgeny Batyashin, Director of Research and Development at SberMarketing:
«The share of mortgage transactions among young people has been stable over the past few years, despite large-scale changes in lending conditions. The study showed that young people are very interested in the topic of loans and credits. According to the survey, approximately every second respondent is confident that they understand banking services well and considers a loan a convenient tool. But what is more important, young Russians are enthusiastic about learning financial literacy: 94% of respondents indicated that they are interested in learning.»
The most popular program among the younger generation is the «Family Mortgage» — 66% of respondents know about it. Next comes the «State Support» program — every second respondent (51%) has heard of it.
More narrowly focused programs are noticeably lagging behind in terms of recognition. For example, only a third of respondents (33%) know about the program for IT industry employees, 28% know about the “Rural Mortgage,” and 22% of respondents know about the “Far Eastern and Arctic Mortgage.”
The survey data are in good agreement with the statistics of mortgage issuances for all ages. Indeed, the «Family Mortgage» and «State Support» are record-breaking programs and are in high demand among Russians. Thus, in the first half of the year, these programs accounted for about half of all mortgage transactions in the bank (52%): 26.5% for the «Family Mortgage», 25.6% for mortgages with state support.
However, among young people, the «Family Mortgage» is in much less demand than the «State Support» program. Thus, among borrowers aged 18–25, the percentage of issuances under the «Family Mortgage» is only 11%, while under «State Support» it is 33%. Domclick analysts explain this discrepancy by the high proportion of childless Russians under 25. Rosstat data confirms this hypothesis: on average, Russians have their first child at age 26.
Experts add that the high demand for «Gospodderzhka» among young people is connected with the interest in individual housing construction.
As for more targeted programs, their demand among young people is low: the share of «IT-mortgage», «Far Eastern and Arctic mortgage» and the preferential program in the Republic of Tyva together account for 8% of all issues.
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