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Housebuilding on the rise in Russia

Russia’s housebuilding market looks ready for a strong 2015 – a major survey of contractors carried out by the Russian Institute of Housebuilding Development (RIHD), combined with Russian government figures, has shown that 5% more housing will be built in the country this year compared to 2014.

The RIHD carried out the survey using data from its ‘project portal’, a website where residential developers in Russia can enter information on their plans for new buildings. The site now contains details of over 11,000 projects, making it a vital source of data for tracking the fortunes of Russia’s housing market.

“This study gives us a mathematical and statistical understanding of what is happening,” said RIHD president Leonid Kazinets, speaking as the survey’s results were announced at a Moscow housebuilding conference. “I have never seen such a thorough analysis of residential construction.” The study’s finding have been echoed by the latest national statistics, which reveal that over 88 million square metres of living space is set to come into use by the end of 2015. This would mean a rise of 28% on the first three months of 2014.

As well as the headline figure, the survey has revealed some valuable insights into what the next few years might have in store for Russian housebuilding. Apartment blocks are going to get a lot bigger – the average number of apartments in a new block will rise to 222 in 2017, a big increase from the current figure of 122 apartments. This is partially being driven by some huge residential projects in the pipeline this year, including Dolina Setun (pictured under construction, image credit Max Ryazanov), a pair of 37-storey towers well under way in Moscow.

Over the same period, the average floor space in a block will increase from 7,360 sqm to 13,913, a rise of nearly 90%, and by 2017 there will be an average of 12 storeys in a new residential block, up from eight in blocks built this year.

This rise in housebuilding is likely to benefit the whole of the building and interiors industry, with suppliers of interior finishes and bathroom equipment anticipating increased demand as more and more Russians upgrade to newer homes.

 

Information taken from http://rcmm.ru/content/topics/972.html         


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Venue: CROCUS EXHIBITION CENTRE

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Tanya Aleksankina

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