Russians were informed about the shortage of housing and communal services financing in the amount of 400-450 billion rubles

The total financing deficit in the segment of individual housing construction in Russia by the end of 2025 is estimated at 400-450 billion rubles. This conclusion was made by analysts of the investment platform "VBeton". Izvestia got acquainted with the results of the study on February 1.

"Since residential housing accounts for two thirds of the total housing commissioning in the country — 59.5 million square meters. m out of 91.5 million sq. m . In January – November 2025, the shortage creates systemic risks for the entire industry. The key reason for the lack of funds was the entry into force on March 1, 2025 of the law on the mandatory use of escrow accounts for the construction of private homes under contract agreements," the study said.

Previously, analysts say, developers could immediately use customer funds, but now the money is frozen until the facility is completed, which requires companies to have significant working capital for the entire construction period. Additional pressure was exerted by high interest rates and stricter requirements of banks to contractors.

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To assess the scale of the problem, analysts compared the volume of mortgage loans for residential housing (617 billion rubles in 2024) with the volume of bank financing for developers (90 billion rubles of renewable credit lines in 2025). Taking into account the average profitability of developers of 10% and the turnover of funds, the estimated deficit amounted to 400-450 billion rubles.

A survey conducted by the VBeton platform together with the Federation of Residential Housing and Communal Services among 34 companies from 14 regions confirmed the severity of the problem. 35% of developers cited difficulties with financing and high rates as the main challenge, 29% — bureaucratic barriers, 27% — unpredictable increase in prices for materials. The consequences were critical: 41% of companies were forced to refuse customers due to lack of funds, the same number worked without a financial reserve.

"In search of alternatives, 50% of developers attracted funds from private investors, 47% — bank loans, 3% — crowdlanding platforms. However, the unregulated attraction of private investment creates legal risks for both sides and is the focus of the Bank of Russia, which maintains a register of organizations with signs of illegal activity," the experts said.

According to Ivan Tyagunov, founder of the VBeton platform, today only about 5% of private investments in the sector go through licensed crowdlanding platforms. However, the market is moving towards civilized forms of capital raising, and in the next five to seven years, the share of regulated platforms may grow to 30%, which will help partially close the working capital gap and reduce the industry's dependence on a single source of financing.

Architect Pavel Matveev said on January 3 that in order to increase the cost of the apartment, its owner needs to work with the layout. Recalling the importance of observing the principles of the "golden ratio", he stressed that what matters to buyers is not so much the number of rooms themselves as their ratio to each other and to the total area of the purchased housing.

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