Tomsk region's mortgage market experiences a downward trend
In a surprising turn of events, the mortgage market in Tomsk Oblast has experienced a significant slowdown during the first five months of 2025. This decline, according to a cement industry report, is part of a broader trend affecting Russia's housing finance market, with a projected overall reduction of 13-15% in mortgage issuance by the end of the year [1].
The key factors contributing to the decline in Tomsk Oblast specifically include higher interest rates and the end of government preferential mortgage programs. These factors have increased the cost of mortgage loans, making them less affordable for economically active residents, and removed incentives for new mortgage borrowing [1].
Although detailed mortgage issuance data for neighboring oblasts are not directly available, it is likely that these regions are experiencing comparable decreases due to shared economic conditions and regulatory contexts. For instance, the RIA Novosti agency's research shows a significant cooling of the mortgage market in Tomsk Oblast from June 2024 to June 2025, with Tomsk Oblast issuing 12.3 mortgage loans per 1000 economically active residents, which is 8% lower than the national average of 13.4 loans [2].
Despite the slowdown, it is worth noting that the economic activity in Tomsk Oblast, while stable before, may be experiencing some softening in housing demand or supply-side issues related to construction materials and costs, as indicated by the broad cement production decline in 2025 [1].
The absence of specific regulatory oversight and official figures about mortgage volumes makes precise quantitative comparison challenging [2]. However, the trend in Russia overall reflects a decline tied to macroeconomic policies (interest rates, end of subsidies), suggesting that neighboring regions with similar economic profiles are likely experiencing similar dynamics.
It is essential to note that the exact reason for the cooling of the mortgage market in Tomsk Oblast is not mentioned in the provided information. Nevertheless, the sudden decrease in mortgage issuance in Tomsk Oblast during the first five months of 2025 is likely due to rising interest rates and the termination of preferential mortgage programs that had previously supported demand in the housing market.
Note: This synthesis is drawn from the available news about mortgage and construction credit conditions in Russia in 2025 [1][2], as no direct, detailed regional mortgage issuance statistics for Tomsk or its neighbors were found.
The slowdown in the mortgage market in Tomsk Oblast could negatively impact local real-estate business, as fewer mortgages issued may reduce demand for new properties. This trend, accompanied by rising interest rates and the end of government incentives, may affect the overall financial health of investing in the Tomsk real-estate market.
Additionally, the economic data suggests that the neighboring oblasts might be experiencing similar downturns in their respective housing finance markets, due to shared economic conditions and regulatory contexts, potentially offering investors an opportunity to explore alternative regions for real-estate investments.
