The poster on an appartment house in Omsk, Russia, reads: "We offer new home."
Photo: Sergey Bykhovez
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On the Threshold of Construction Boom
In Russia, the housing surged over 1.5 fold on year to 9.5 million sq meters in the first quarter, the Federal Statistics Service reported, prompting the analysts to conclude that Russia is on the edge of investment and construction boom.
The launch of new construction houses showed obvious acceleration in the first quarter. As many as 101,500 flats of the overall area of 9.5 million sq meters (51.1 percent up on year) were constructed in January to March of this year.
Unusually warm winter is not the single cause of such achievements. The matter at stake is the start of investing boom, the analysts explain. According to official statistics, fixed capital investments stepped up 20.1 percent in January to March (vs. 2.7 percent in the first quarter of 2006 and 13.7 percent over the whole 2006).
Moreover, the victorious performance of construction industry could be attributed to the Moderate-Price Housing National Program. Indeed, the most stunning results were reported exactly from the regions, though the situation couldn’t be called equally advantageous in all of them. Ingushetia, for instance, was the obvious outsider. The construction launch didn’t exceed 1,300 sq meters there, or 16.7 percent of the Q1’06 result. As to the leaders, they are easy to predict. Moscow and Moscow Region built nearly 2.3 million sq meters, having covered 24 percent of all housing recently emerged in the country.
www.kommersant.com
All the Article in Russian as of May 02, 2007
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