The number of new construction projects in Russia decreased by 24%

In 2025 it is planned to keep the target of more than 100 million square meters of commissioned housing, but already now there is an alarming situation - the commissioning of new projects has decreased by 24% and investors are suspending construction on already started projects. This was told by Deputy Prime Minister Marat Khusnullin in an interview with Izvestia.

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"According to the results of three months, the volume of housing commissioning exceeds the level of 2024. This suggests that this year we are guaranteed to deliver more than 100 million square meters of housing. But at the same time we already see very alarming signals that show that there are risks ahead. For example, new projects have already started to be built by 24% less. If in previous years they were growing, every year there were more and more, now for the first time in the five-year history for the sixth year the number of new projects has decreased", - he said.

Marat Khusnullin also noted that "even on the projects that have been started, investors suspend construction", mortgages are also decreasing.

"Building permits have been obtained, but they do not go to the construction site - they are waiting for the key rate to go down. We also see a decrease in mortgages by almost half compared to last year. And what is especially worrying is the reduction of mortgages in individual housing - it gives the largest volume of commissioning. Last year 62 million square meters have already been commissioned - this is the best result in the history of housing commissioning, but now banks do not issue mortgages for housing, which does not encourage people to invest in individual housing construction," added Deputy Prime Minister.

According to him, in two or three years, if no measures are taken now, we may see negative consequences, up to a sharp decline in the volume of housing commissioning.

Therefore, a set of 30-40 measures to support the industry has now been developed, it will be sent to the government and the president.

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