OREANDA-NEWS  The volume of mortgage in Russia for 11 months of this year increased by 45% - to 2.67 trillion rubles, told in the analytical center of "RusIpoteka".

"At the end of 11 months of 2017, 1,731 trillion rubles were issued. An increase of around 45%," - said the Agency interlocutor, adding that in January-November 2018 were issued 1.3 million credit.

According to preliminary estimates of the Russian Library, the volume of lending in November is close to October and is estimated at 300 billion rubles, according to a press release.

The volume of mortgage loans grew throughout the year. According to preliminary data, the increase will be about 50% to the results of 2017; thus, for 10 months, 1.17 million mortgage loans were issued (+44.4% to the same period of 2017) in the amount of 2.37 trillion rubles (+58.2%). For comparison, last year for 10 months, the mortgage showed a thirty percent growth, and even then experts began to fear a "bubble" – similar concerns periodically sound now, although market participants are mainly inclined to an optimistic scenario.

"Even with such a large growth, we do not see any signs of a mortgage bubble: the mortgage portfolio in the Russian Federation is only 6% of GDP, which is much less than in a number of developed countries, where it exceeds 50%. The level of overdue debt is relatively low, the requirements for borrowers remain quite high, the real estate market is not overheated," says Denis Kovalev, Deputy Chairman of the Board, head of the credit and operational unit of DeltaCredit Bank.

At the same time, real estate market participants pay attention to the fact that buyers are trying to reduce the purchase budget in every way, and they have almost no savings.

The steady growth of mortgages causes not only optimism among the industry participants, but also fears. Thus, in early December, the Central Bank proposed to consolidate the borrower's right to temporarily suspend mortgage payments, for example, in case of loss of work – this initiative was called the "law on mortgage holidays".

Representatives of the banking sector met the bill ambiguously, for example, the head of Sberbank German Gref called it "unnecessary".