Content |
Main article: Real estate (Russian market)
2023
Banks recovered 22.2 billion rubles from problem mortgage borrowers through the sale of apartments
Banks have 3 times increased the volume of repayment of overdue mortgages by withdrawing and selling apartments at auction over the past 5 years. Last 2023 became an anti-record for mortgage debtors: creditors sold 22.23 billion rubles in pledged apartments for the year. This is 1.4 times more than during 2022 (15.85 billion), 1.3 times more than in 2021 (17.5 billion) and 2.6 times more than in 2019 (8.4 billion). Experts from the Debt Consultant collection agency shared such data with TAdviser on March 22, 2024.
 | "The time interval before the sale of a mortgage apartment at auction from the date of the first delay in recent years has significantly decreased. In the 2010s, the process took 2-4 years, now it is 1.5-3 years, "says Denis Aksyonov, general director of the Debt Consultant collection agency. - The reasons for this reduction were an increase in real estate prices, an increase in the interest of the population in objects at the auction and a more streamlined work of the FSSP. " |  |
Sources: PKO "Debt Consultant," Central Bank of the Russian Federation
The share of overdue debt repaid through the sale of mortgage mortgage apartments at the end of 2023 amounted to 40% of the total overdue debt at the beginning of the year (58.7 billion).
| | "And this is also a record, but with a positive connotation for both creditors and borrowers," added Denis Aksyonov. "It is highly likely that after the sale of the apartment at the auction and 100% repayment of the debt, against the background of rising real estate prices, a surplus of money could form, which remains to the debtor." | |
In 2022, the volume of repayments through the sale of apartments to the total overdue debt was 25%, in 2021 - 22%, in 2020 - 21%.
| | "Despite a noticeable share of repayments, the total portfolio of overdue mortgage debts is growing steadily, according to the results of 2023, it increased by another 2.5 billion rubles or 4%, exceeding 61 billion," concluded Denis Aksyonov. | |
You can get acquainted with the full data on the volume of sold mortgaged apartments in the regions of the Russian Federation at the link.
The number of residential properties sold at auction as part of enforcement proceedings increased by 5% over the year
The number of residential properties sold at auction as part of enforcement production in 2023 increased by 5% compared to 2022. In total, 4.15 thousand trades took place against 3.97 thousand a year earlier. Such conclusions were reached in the collection agency "Debt Consultant (Doc)" after studying the register of public tenders of the Federal Bailiff Service and the register of lots of GIS "Torga." This was announced by the "Debt Consultant (Doc)" on February 19, 2024.
At the same time, the total number of residential real estate sold within the framework of enforcement production in 2023 (apartments, rooms, houses, as well as shares in residential real estate, a total of 4149 objects), compared with the results of 2021, decreased by 19% (then 5126 objects were sold).
| | The number of transactions implemented with the participation of the FSSP of real estate in 2023 after falling in 2022 showed a timid attempt to restore, but it is unlikely that in 2024 it will be able to repeat the successes of 2021, - said Denis Aksyonov, general director of the Dolgovoy Consultant collection agency . - Objects go to auction at prices close to current market prices, this reduces investor interest in them. It is no secret that more than half of the apartments purchased at the auction are subsequently sold, and it has become difficult to find a buyer who is ready to take an expensive mortgage loan. Investors are unable to quickly and profitably realize the property purchased at the auction, so at the end of 2023 there was a decrease in interest in trading, which will fully manifest itself in the first half of 2024. The results of public trading are the result of non-payments on mortgages formed in 2020-2021. The difficulties of 2022 will bring housing to public auction only after 2-3 years, that is, we will be able to see a noticeable increase only at the beginning of 2025 - 2026. | |
In 28 regions, out of 84 (or 33%), the number of objects sold decreased year-on-year, in 52 (62%) - increased. The largest increase in the Udmurt Republic (+ 60), the Tula Region (+ 35), the Republic of Sakha (Yakutia) (+ 33). In 2023, the leaders in terms of the number of trades were the Moscow and Chelyabinsk regions, Moscow and St. Petersburg. In a number of regions, trading did not help reduce the accumulated problem volume of mortgage debts.
Regions leading in the sale of housing at auction
In 2022, in the first half of the year, information on public trading was published by the FSSP of the Russian Federation, in the second half of the year - already at the Torgi GIS. In 2023, according to the state information system, housing worth 22.3 billion rubles was sold. For 6 months of 2022 - by 8.99 billion rubles. According to the Bank of Russia, for 9 months of 2023, creditors managed to recover 17.1 billion rubles due to the sale of mortgaged apartments, in 2022 - 15.85 billion, in 2021 - 17.48 billion.
| | Despite the fact that in 2023, within the framework of enforcement production, less than almost a thousand real estate objects were sold than in a record 2021, the amount of proceeds due to an increase in real estate prices turned out to be 4.8 billion rubles more, - said Denis Aksyonov. - There are very few interesting points on prices where investors could get a quick profit, as in 2021. | |
The register of notices of public tenders of the FSSP and GIS "Torgi" includes information about the debtors who have held (completed) tenders for property appointed during enforcement proceedings, which are the result of non-compliance with court decisions. At the initial auction, housing is put up at the price indicated in the court decision, which, as a rule, is set at a discount of 20% of the market estimated value. At repeated trading, the price decreases by another 15%.
The full table of the "Debt Consultant" on the housing sold at the auction of debtors in the regions of Russia can be found here.
2020: The value of the property put up for auction decreased by 19%
The cash equivalent of real estate put up for public auction at the end of 2020 in the Russian Federation exceeded 36.5 billion rubles, having decreased by 19% compared to 2019. This was announced on January 28, 2021 at the Dolgovoy Consultant collection agency. The average offer price for one lot decreased by 6%, to 2.07 million rubles. The agency's specialists came to such conclusions after studying the register of public auction notices of the Federal Bailiff Service.
The FSSP enters information on the auction of property of debtors appointed during enforcement proceedings, which are the result of non-compliance with court decisions, into the register of notices of public tenders. A decrease in the average offer price on average in the country by 6% or 128 thousand rubles suggests that more real estate objects of the economy segment were put up for auction.
For 12 months of 2020, bailiffs put up for sale more than 17.6 thousand apartments for 36.5 billion rubles. A year earlier, 20.5 thousand objects worth 45.2 billion rubles entered public trading. The largest number of housing was offered in the Chelyabinsk region (1044 objects), the Republic of Bashkortostan (912), and the third place is Moscow (860 objects) (the leading regions in terms of the number of residential real estate for sale are presented in Table No. 1).
.png)
Abnormal trading volume was recorded in the Tyumen region (72 apartments were put up against 1 in 2019) and Primorsky Territory (216 against 13). For the first time, housing of the Chukotka Autonomous Okrug reached the bidding procedure. In the course of the study, a trend was noted that in the southern regions of the country much fewer apartments enter the auction through bailiffs compared to neighboring regions.
The largest volume in rubles, on the contrary, fell on the capital region (8.59 billion rubles), St. Petersburg (2.22 billion) and the Republic of Bashkortostan (1.62 billion) (full data are presented in the table). Abnormal trading volume was recorded in the Tyumen region (72 apartments were put up against 1 in 2019) and Primorsky Territory (216 against 13) (the leading regions are presented in Table No. 2).
.png)
The time period from the first day of non-payment on the loan to the moment of putting up housing for auction through the FSSP previously averaged several years. The creditor bank is previously trying to negotiate with debtors, followed by a statement of claim to the court, after that - making a decision and receiving a writ of execution. The appearance at the auction of debtors' assets in the form of claims for incomplete construction of housing, taking into account the average construction period of no more than three years, indicates a tendency to reduce the time between the first non-payment of the loan and filing a lawsuit.
| | "The reduction in the cash equivalent of listed housing may be indicative of, that creditor banks and debtors began to resort to pre-trial collection procedures more often, since housing is put up for primary auction at the price specified in the court decision, which is more often set at a discount of 20% of the market valuation, on repeated ones - with a markdown of another 15%, - said Denis Aksyonov, general director of the collection agency "Dolgovoy Consultant." - Having brought the matter to bidding, the former owner loses up to 40% of the market value of his property and in every second case there is not enough money after the sale to fully pay off the debt to creditors. The second reason for the decrease in the average price is probably a larger number of objects with a low market value, that is, overdue mortgages have already reached those cities and villages where they have not heard about it before. " | |
The average cost of real estate put up for auction increased in the Udmurt Republic (2.3 times to 2.95 million rubles), the Tambov Region (1.8 times to 2.28 million), the Kostroma Region (1.5 times to 1.37 million rubles) (the leading regions are presented in Table No. 3).
.png)
| | "An increase in the average price of an apartment put up for auction may mean that borrowers default, who owned better quality, spacious and demanded housing on the market, on the other hand, the higher the value of the mortgage apartment, the more likely it is that the debtor, after the sale of the property, will pay off all the debt and for the rest of the money can start life from the beginning, by purchasing other housing, albeit with lower characteristics, but still housing, "added Denis Aksyonov. | |
According to the expert, the study does not assess the impact of coronavirus restrictions. The final data in the regional context coincide with the figures for the growth rate of overdue mortgage loans: the largest number of objects exhibited and their monetary equivalent are comparable to the official volume of mortgages, which borrowers have ceased to repay for more than three months in a row.
See also
| The site content is translated by machine translation software powered by PROMT. The machine-translated articles are not always perfect and may contain errors in vocabulary, syntax or grammar. Read original article If you find inaccuracies or errors in the results of machine translation, please write to editor@tadviser.ru. We will make every effort to correct them as soon as possible. |