The rate of commissioning of new housing in Russia will collapse at the end of 2024

At the end of 2024, for the first time in several years, the commissioning of new housing collapsed by 13%, before which a slight increase was recorded every month. This follows from the data of the Central Bank, which were reviewed by "Izvestia".

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The situation on the market differs by region. The Bank of Russia collects data on its seven main departments in different parts of the country. In December, housing commissioning decreased the most in the south of Russia - by 23.1% at once. In the north-west it was only slightly less - by 22.6%, and in the central part of Russia - by 14.9%. The indicator decreased least of all in the Urals (by 2.2%).

Earlier, in October, there was only a slight decrease in Russia as a whole - by 2.6%. Before that, the housing output had been increasing all year long. And in January 2024 and in December 2023 the growth exceeded 30%.

Experts believe that the decline in the commissioning of housing in Russia in December 2024 was caused by the expectation of a decline in sales in 2025. Sales fell throughout the second half of 2024 - in December, for example, the issuance of mortgages collapsed by 73% in annual terms in the number of loans.

Read more in Izvestia's exclusive piece:

Era of idle time: housing commissioning rates collapsed in Russia for the first time in several years