OREANDA-NEWS  The total amount of proceeds to escrow accounts from the sale of housing in Russian new buildings amounted to 3.4 trillion rubles since the beginning of the year, which exceeded the result of the entire 2022 year, the press service of the House of the Russian Federation reported.

"Record sales of housing in new buildings in the third quarter of 2023 led to maximum receipts to escrow accounts during the operation of the mechanism - 1.6 trillion rubles. Since the beginning of the year, the total revenue has amounted to 3.4 trillion rubles, which is already more than in the whole of 2022," the press service said.

In 10 months of 2023, developers received 2.5 trillion rubles from disclosed escrow accounts, which is 1.7 times more than in the same period last year, the state-owned company reported. At the same time, the weighted average rate for project financing is 5.8%.

According to the head of the analytical center DOM.Mikhail Goldberg's Russian Federation, most developers note the continued availability of project financing for current projects. "This is generally confirmed by market data: throughout the year, both the credit limits of developers and the actual sample of loans are increasing," the press service quotes his comment.