Dashboards / Square Meters and the Rate · About the dashboard →
New builds · mortgages · key rate · dollar

Square Meters and the Rate

How new-build apartments sell in Russia's largest regions month by month, and what the key rate, the dollar and mortgage programs were doing at the time. Data from DOM.RF and the Bank of Russia, .

Numbers for publication

A ready paragraph for the selected region for the latest month. All numbers come from the table below; the wording is careful: “new-build mortgages”, not “sales”.

To cite in a text:

Facts of the month

Calculated automatically from the series; usable as subheadings.

    New-build mortgage lending and what weighed on it

    Three panels on one timeline. Top: primary-market mortgage loans issued per month; below: the key rate at month end and the average dollar rate. Numbers mark mortgage and rate decisions, listed under the chart. The slider at the bottom narrows the period.

      Construction volume and open sales

      Residential area in buildings under construction at month end: how much is already sold, how much is on sale awaiting buyers, and how many square metres are not yet on sale. This is the state of construction on a date, not monthly sales: when a building is completed, its square metres leave the indicator.

      Sell-out of construction by region

      The share of residential area in the region's buildings under construction that is sold, on sale but unsold, or not yet on sale, at the end of the latest month. Sorted by construction volume. Click a row to switch region.

      SoldOn sale, unsoldNot yet on sale

      Sell-out before completion

      The share of residential area sold in buildings scheduled for completion this year, at the same month of each year. The lower it is, the more apartments developers will have to sell in finished buildings.

      The completion year is the planned one, from the developer's project declaration. Buildings already completed are excluded; a postponed deadline moves a building to the next year.

      Sell-out by completion year

      All residential area under construction in the region by planned completion year: how much is sold, on sale but unsold, or not yet on sale.

      SoldOn sale, unsoldNot yet on sale

      Deals: registered equity-participation contracts

      How many equity-participation contracts (DDU) Rosreestr registered per half-year, and how many new-build mortgages were issued in the same months. This is the actual number of deals, but it is published only twice a year.

      DDU covers all contracts, including parking spaces and storage rooms, so the gap between the bars is not the number of apartments bought without a mortgage. Rosreestr data are published via EMISS, Russia's official statistics portal: the first half-year by September, the full year by March.

      Regions in the latest month

      New-build mortgage lending by region and its change versus the same month last year. Sorted by change. Click a row to switch region.

      Seasonality: year over year

      Primary-market lending by month, one line per year. The play button adds years one by one.

      How long it takes the rate to reach the market

      Correlation of the year-on-year change in the key rate with the year-on-year change in primary-market lending, at lags of 0–12 months.

      Correlation shows timing, not cause: demand was shaped at the same time by the rate, subsidized programs, the exchange rate and buyer expectations.

      Price per square metre in deals

      Developers' revenue divided by square metres sold in buildings under construction. These are real contract prices, not listings.

      New-build share of mortgage lending

      The share of all the region's mortgage loans in a month that went to new builds. Shows how much the primary market relies on subsidized programs.

      Table: every month for the selected region

      The same series as in the charts. The button copies the table in a format Excel and Google Sheets understand.

      Show table

      What the indicators mean

      New-build mortgages
      The number of mortgage loans issued in a month on the region's primary market (Bank of Russia data via DOM.RF). The main monthly demand indicator: it excludes deals without a mortgage, so write “new-build mortgage lending”, not “sales”.
      Contract price per m²
      The total value of active equity-participation contracts divided by the area sold, for buildings under construction. The actual deal price, including discounts.
      New-build share
      The share of new-build loans in all of the region's mortgage lending in a month. The higher it is, the more the market depends on subsidized programs.
      New-build rate
      The weighted average rate on new-build mortgages issued in a month. A low rate against a high key rate means lending runs mostly through subsidized programs.
      Construction volume
      Residential area in all of the region's buildings under construction under equity-participation contracts, at month end. Split into sold, unsold (on sale but not sold) and area not yet on sale. It's a stock on a date: completed buildings leave it, so the difference between two months is not sales.
      Sell-out before completion
      The share of residential area sold in buildings under construction whose completion date in the project declaration falls in the current year. The same month is compared across years, because the indicator rises naturally towards year end.
      Registered DDU
      Equity-participation construction contracts registered by Rosreestr over the period (EMISS data, indicator 38088). This is a flow of deals, not a stock, but only by half-year. Includes contracts for non-residential premises.
      Sold under construction
      Cumulative area sold in buildings still under construction. When a building is completed its square metres drop out, so the series can't be used as “monthly sales” and is given in the table for reference.
      Key rate, exchange rate
      The Bank of Russia rate at month end and the official average dollar rate for the month.