Tatarstan in top 3 in housing delivery in Volga region
Over 2.5 million square metres of housing delivered in the republic and another two Volga regions with DOM.RF
Tatarstan is in the top 3 in housing delivery in the Volga Federal District with DOM.RF as state support programme operator launched according to the Russian president’s instructions. Constructors of the republic delivered 328.000 square metres in new-builds with the help of the bank. At the same time, the region takes the lead in many areas such as individual housing, IT mortgage, it is active in pilot projects, including in infrastructure bonds. Specialists of DOM.RF talked about this during an online conference on housing development in Russia and particularly in the Volga region.
Higher housing delivery rate in the Volga region
Over 2.5 million square metres of housing, or twice as much as a year ago, were delivered in ten Volga regions in 2023. Director of Urban Engineering, Project Support and Infrastructure of the bank Ivan Budlov said this.
“The top 3 in housing delivery is Bashkortostan (838.000 square metres), Samara Oblast (702.000 square metres), Tatarstan (328.000 square metres). We engage unused federal land parcels, and this work is done across the country. The goal is not only to improve living conditions but also develop a comfortable environment, cities and territories,” he stressed.
Head of the Department of Housing Research of the bank’s Analytic Centre Maria Zholobova talked about the construction pace and launch of new development projects. According to her, housing in the area had been stably growing and reached the maximum the year before. “At the same time, private housing provided some growth in 2022, blocks of flats did it in 2023,” she specified.
“A potentially low quality, non-compliance with deadlines or promised construction cost are key fears. These factors are absolutely clear, people are simply afraid of being deceived. To eliminate these risks considerably, there was designed a special mechanism to protect citizens’ money with escrow accounts,” said Prozorovsky.
Thanks to changes in legislation, today private houses can be built according to the rules applied to blocks of flats. The introduction of escrow accounts in individual housing provided citizens with financial guarantees, at the same time, constructors obtained access to finance projects. Now seven low-storey complexes are being built in Russian regions, two of them are in the Volga region — it is Perm Krai and Ulyanovsk Oblast. But Russians needs not only in such projects but also targeted housing development, their own households. This is why the Russian president ordered to create conditions for a civilised private housing development market.
In the Volga area, the bank granted corporate loans for nine contractors operating in private housing construction. There have already been signed agreements with six companies. The loans have totalled over 300 million rubles.