Having a strong marriage in Russia is as easy as taking a home loan. A recent research discovered that the divorce rate among Russians paying a home loan is 10 times lower than among those who don’t have a mortgage.

Mortgages save marriages

The divorce rate among couples repaying home loans is 2% as compared with the general rate of failing marriages of 10-20%, RIA Novosti reported, based on findings by Equifax and the national association of collection agencies in Russia.

Analysts believe that the reason for such disparity is in the mature attitude exhibited by locals in regard to taking a home loan. As the experts point out, spouses are careful in evaluating their financial abilities as well as the psychological stability within the family.

Tying the knot, on the other hand, doesn’t seem to be such a giant thing for Russians, if we believe the analysts’ reasoning as to why mortgages save marriages.

The true reason is probably much simpler: It’s too hard to deal with property division issues when a couple has a mortgage. The best option would be to sell the home, but it’s not always possible, when people have nowhere else to live.

Property ownership in Russia

Renting in Russia is relatively expensive as compared to the value of wages, with the majority of people owning their homes rather than taking a lease.

If you are dating a Russian woman, chances are, she owns her own apartment as opposed to renting. It would be rather small in size, but it will have all the necessities such as a separate kitchen, an entry hall, a living room, and a bathroom. All apartments have a central heating system, so it’s warm inside during the cold frosty winters.

You might be thinking that Russians are poor, but if you look at the actual situation, these “poor Russians” own their homes outright, without a mortgage.

The most popular units to purchase in Russia are 1-room apartments, where the living room becomes a bedroom as night. Many young families live in such units. They are the cheapest to buy and easy to rent out, which is why they are popular.

Most often Russians own small apartments, but with all the necessary amenities.

Factors influencing real estate prices

The majority of Russians live in apartments in high-rise concrete buildings in so called “sleeping suburbs”. These are the suburbs where people come to sleep at nights with only a few options to entertain or shop. These units are the most affordable to buy. Units in areas in city centres are priced much higher. Capitals outperform regional towns in regard to property values.

In large cities, the property’s proximity to subway is also valuable. The majority of the population is using public transport to get around. Buses and taxi-buses (mini-buses hat take 8-12 people) are the most popular way to travel around local areas.

If the Russian lady you are dating owns a car, she is quite well off by the local standards. There are 293 cars per 1000 people in Russia (according to 2018 data), Autostat.ru reported.

1-room units traditionally have been the most popular type of accommodation among renters and local buyers. Open-plan units are getting more popular but the traditional floor plan includes a separate kitchen and an entry hall.

Home lending in Russia

In the first half of 2019 the total amount loaned by Russian banks to home buyers dropped by 3.5% as compared to the same period of the last year.

• The total amount loaned to buyers in 6 months of 2019: 1.26 trillion RUB (USD 19,3 billion).
• The total number of mortgage contracts in 6 months: 575,500 (13.3% less than in 2018).

The total amount loaned through mortgages in Russia went up to 7 trillion RUB (USD 107 billion): It’s an increase by 10.2%.

The current mortgage interest rates in Russia vary around 9-10% per year. It seems high, but a just few years ago interest rates were double the size of the current rates.

Read also:

• How much does it cost to rent an apartment in Moscow?
• Why Russian women stay virgins until marriage
• New law on de facto marriages in Russia
  
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