Volume of housing construction rose by 20.5% in Ufa in January-May

Rozaliya Valeeva

UFA, 11 June 2015. /Bashinform News Agency, Rozaliya Valeeva/. In January-May 2015 in Ufa more than 190 thousand square metres of housing were built and put into operation from all sources of financing, which is by 20.5% more than for five months in 2014. This was announced by the mayor of Ufa Irek Yalalov at the press conference held in the city administration.

According to Konstantin Kuzminykh, the current market situation is favourable for purchasing new housing - mortgage is about 7-9 percent per annum, while in the market of existing housing it is 14-16 percent per annum.

“In general, the demand for housing is not high now – the population experiences shortage in means,” Konstantin Kuzminykh reports. “People are spending on priority needs, and housing is a long-term investment. Some stagnation is marked in the market of existing housing – it is not easy to get a mortgage, banks scrutinize each borrower.”

According to Kuzminykh, the SCO and BRICS Summits can play a positive role in promoting market sales, Bashkiria will be positioned on the federal level and it may interest buyers from other regions. But if sanctions will be tightened the money supply of the population will decline again, the demand for housing will also drop according to the economic laws.

#housing #construction #rates

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