UDC 336.77.067.22
DOI: 10.36871/ek.up.p.r.2025.06.03.017
Authors
Naira V. Tadtaeva,
North Ossetian State University after K. L. Khetagurov, Vladikavkaz, Russia
Abstract
The basic indicator demonstrating the standard of living of citizens is the ability to purchase real
estate, i.e. the ability of a person to buy real estate, while making their daily expenses in the usual mode. In
our country, without the active use of socio-economic policy, the mortgage lending market will not be able to
develop and transform without the introduction of government support measures for this sector of the economy.
This is natural and is associated with both the increasing needs of citizens for real estate and the increase
in prices for it. The mortgage market should be viewed through the prism of the interaction of such categories
as the market for mortgage loans, mortgage securities and real estate
The most important instrument of long-term lending, where real estate is used as collateral, is mortgage
lending. The current state of the Russian mortgage lending market demonstrates certain negative phenomena
that need to be mitigated, as they hinder the full-fledged development of the Russian economy. Among them,
we would like to highlight the following: stable inflation, observed throughout the entire period of transformation
of our economy from planned to market inflation, its growth leads to an increase in not only the cost of
housing and everything necessary for a full life of citizens, but also an increase in the discount rate, the growth
of which is justified by the central bank, restraining prices; low solvency of citizens of the country – this is a
key indicator demonstrating an objective picture in the state; no market competition in the field of real estate
construction – low supply in the primary construction market; strict control over the cost of housing by monopolies,
oligopolies, etc.; high cost of borrowed funds – for developers there is no real opportunity to obtain
inexpensive credit resources to finance their projects, which results in high cost of mortgages for residents of
the country; global financial crisis of world scale is a macroeconomic factor influencing economic development
within the country.
The relevance of the research topic lies in the constant process of improving mortgage lending in Russia
and increasing the efficiency of using this lending mechanism. Modernization of the mortgage market is necessary
due to the growing demand for the purchase of real estate by the population of the state.
Keywords
mortgage market of Russia, problems and prospects for the development of mortgage lending, improvement of mortgage legislation in the Russian Federation
