Residential construction rates exceeded record-breaking 2021 in Ufa in January-May
In January-May 2022, the total area of housing built in Ufa amounted to about 480 thousand square meters. This is 40 thousand more than in the same period last year. In 2021, 1 million 168 thousand square meters of housing was put into operation in the capital of Bashkiria, which became an absolute record in the history of the city. The Ufa mayor, Ratmir Mavliev shared such data in his speech to the deputies of the City Council.
He also recalled that construction occupies a significant share - about 11% - in the structure of GDP, and taking into account the types of activities classified as "Real Estate Operations", - 19% of GDP.
Speaking about the prospects for the construction market, experts fear a slowdown in the industry's development due to the general worsening in the economic situation. State assistance will play a very important role here, primarily in terms of reducing the administrative burden on the construction business and providing the population with the opportunity to receive preferential mortgage loans.
Author: Sergey Nikolaev
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