OREANDA-NEWS  Housing commissioning in Russia in January-July 2024 increased by 3.4 percent (to 62.06 million square meters) compared to the same period last year. This is reported by RIA Novosti.

In July of this year, 8.6 million square meters were built in the country, which is 9.5 percent more than a year earlier. At the same time, the population built 43.6 million square meters of housing in seven months of the year. The increase in individual housing construction thus amounted to 23.4 percent by the corresponding period of 2023.

The largest volumes among Russian regions were demonstrated by the Moscow Region (6.9 million square meters, plus 2.1 percent), Krasnodar Territory (3.7 million square meters, minus 8.1 percent), Tatarstan (2.6 million square meters, plus 3.6 percent), Leningrad Region (2.6 million square meters, plus 7.8 percent) and Dagestan (2.26 one million square meters, fivefold growth).

In Moscow, housing starts decreased by 36.3 percent, to 2.24 million square meters. In St. Petersburg, it decreased by 27.5 percent, to 1.6 million "squares".

Earlier, Nikita Yeshkov, a real estate lawyer, said that despite the fact that the total number of mortgage transactions in the Russian market has decreased by 50 percent, there is no reason to panic, and it is not worth waiting for an apocalypse in the real estate market.