Russia focuses on construction: the coming boom
The world's largest transcontinental state is currently under the spotlight for the
real estate sector. What are the news for those who want to buy a property in Russia?
Putin has announced that Russia will focus on construction causing a real boom that will lead to the increase in national GDP.
According to the statistics carried out by the Rosstat, actually the production of the brick in 2017 has fallen from the previous year by 1.4%.
But at the beginning of the year there was a slight unexpected recovery, which we hope will continue later.
In the Moscow region, a plan has been activated that involves the restructuring of thousands of housing blocks and the development of the so-called '' New Moscow '', a building policy ready to build about 12 million square meters of residential properties for a total investments) of around 11 billion euros.
The good projections see a strong recovery that could reach 90 million square meters of living space. By 2023 it is expected that the total volume of apartments in Russia will increase by 4 billion square meters more than last year.
An increase in demand is also assumed thanks to the introduction of loans at subsidized rates and consequently the greater purchasing power of households.
With regard to households, EECFA has foreseen a considerable increase in the share of families able to buy a home (about 55% of the 35% registered in 2016). The transactions would therefore increase to almost 990 thousand units (in 2016 there were 620 thousand).
The great projects carried out by Russian civil engineering have undoubtedly helped this great recovery.
The boom affects not only the residential area. Large shopping centers have increased considerably at the beginning of the year. In fact, in the first quarter about 250 thousand square meters of new spaces appeared on the commercial scene, in addition to those previously inaugurated.
And it is perhaps precisely for this reason that the need to live in spaces much larger than the standard ones was born in the Russian population.
In fact, many investors have decided to increase the living space precisely because they are incentivized by the tax benefits previously mentioned.
According to data collected by Rosstat, more than half of the houses in the country were built between 1945 and 1995. This wave of change perhaps marks the beginning of the '' First construction revolution ''.
real estate sector. What are the news for those who want to buy a property in Russia?
Putin has announced that Russia will focus on construction causing a real boom that will lead to the increase in national GDP.
According to the statistics carried out by the Rosstat, actually the production of the brick in 2017 has fallen from the previous year by 1.4%.
But at the beginning of the year there was a slight unexpected recovery, which we hope will continue later.
In the Moscow region, a plan has been activated that involves the restructuring of thousands of housing blocks and the development of the so-called '' New Moscow '', a building policy ready to build about 12 million square meters of residential properties for a total investments) of around 11 billion euros.
The good projections see a strong recovery that could reach 90 million square meters of living space. By 2023 it is expected that the total volume of apartments in Russia will increase by 4 billion square meters more than last year.
An increase in demand is also assumed thanks to the introduction of loans at subsidized rates and consequently the greater purchasing power of households.
With regard to households, EECFA has foreseen a considerable increase in the share of families able to buy a home (about 55% of the 35% registered in 2016). The transactions would therefore increase to almost 990 thousand units (in 2016 there were 620 thousand).
The great projects carried out by Russian civil engineering have undoubtedly helped this great recovery.
The boom affects not only the residential area. Large shopping centers have increased considerably at the beginning of the year. In fact, in the first quarter about 250 thousand square meters of new spaces appeared on the commercial scene, in addition to those previously inaugurated.
And it is perhaps precisely for this reason that the need to live in spaces much larger than the standard ones was born in the Russian population.
In fact, many investors have decided to increase the living space precisely because they are incentivized by the tax benefits previously mentioned.
According to data collected by Rosstat, more than half of the houses in the country were built between 1945 and 1995. This wave of change perhaps marks the beginning of the '' First construction revolution ''.
