Housing lending: Business aspects of implementation in Russia

Abstract

Subject. This article discusses the system of housing lending in Russia and the peculiarities of its development. Objectives. The article aims to analyze the housing lending indicators in Russia and suggest ways to improve the housing lending efficiency in present-day conditions. Methods. For the study, we used comparative, systems, dynamic, and structural analyses, statistical data generalization, and algorithmization. Results. The article summarizes approaches to understanding and structuring housing lending and finds that there is no clear concept of housing lending in the regulatory framework, in most sources it is identified with mortgage lending. Based on the analysis of changes in housing mortgage lending, the article identifies the problems of its implementation in Russia. It also offers recommendations for improving the country's housing credit system. Conclusions and Relevance. In Russia, there are prerequisites for the implementation of various models and forms of housing loans. It is necessary to develop alternative ways of financing the housing market, including equity participation and the development of housing cooperatives. The system of housing lending requires the formation of a flexible system of government regulation and the development of the mortgage-backed securities market. The results of the study can be useful to federal and regional public bodies to develop and implement financial and investment policies in the context of economic transformation. Also, the work may be of interest to commercial banks and construction organizations implementing housing loan programs.