Blacklist of scam sites

Dow Jones

The Central Bank saw the prerequisites for an increase in the pace of housing construction




MOSCOW, 7 Apr – PRIME. The Bank of Russia sees the prerequisites that more housing will be built in the country in the near future, the Central Bank’s analytical note on housing construction says. “A number of indicators indicate a possible increase in the volume of current construction of multi-apartment housing in the coming months,” the document says. The Central Bank sees good prospects in microloans to small and medium-sized businesses as a factor in local growth in housing supply in 2021, primarily in Moscow and St. Petersburg, may be the transfer of apartments to the status of housing, the regulator said. He also noted that in the second half of 2020 – early 2021, the share of housing being built using escrow accounts continued to grow. As for the regions, by the end of 2020, housing commissioning increased in 48 constituent entities, and in the rest (37) it decreased. In most of the largest regions, housing construction in the past year either decreased or its growth rate was close to zero, the document says. Sales of new buildings in Russia grew by almost a third in two months. The trend towards a decrease in the volume of current multi-apartment housing construction has been observed since 2019. This is due to the gradual completion of the construction of houses, which began on the eve of the transition of the industry to project financing, explained the Central Bank. The reform was accompanied by increased costs for developers and the withdrawal from the market of some small companies that could not continue their activities in the new conditions. “An additional factor holding back the launch of new projects could be the growth of uncertainty in the medium and long-term dynamics of demand for housing and economic activity due to the pandemic,” the Central Bank added. The measures to support housing construction introduced in 2020, as well as the growth in demand for new buildings, including due to preferential mortgages at 6.5%, only partially compensated for the decrease in the area of ​​housing under construction due to other factors, the regulator said. See also: The Central Bank warned novice investors about the dangers of the stock market

Related posts
Dow Jones

Experts assessed the impact of possible sanctions on transactions with ruble bonds

Dow Jones

Is it worth going back to bank deposits due to the rise in rates

Dow Jones

Is it worth going back to bank deposits due to the rise in rates

Dow Jones

Analysts named the top popular transactions of Russians in ATMs

Subscribe to our newsletter and
Stay up to date

Leave a Reply

Your email address will not be published. Required fields are marked *