Construction growth rate at 6.4% in Russia

In Russia, 29.8 million m2 of new housing, or 360 ,400 units, were commissioned between January-July 2013. Which is a 6 4% growth rate on the exact same period a year ago, in accordance with the statistics supplied by the Federal Statistics Service ( Rosstat ).

The information for the 1st 5 months of 2013 were consistently higher than 12 months earlier , with only June and July demonstrating an annual drop which is mostly due to his being the holiday period in Russia. February witnessed the construction of 3 .6 million m2 of residential properties a record which meant  an expansion of 14.7% year on year.

As outlined by the Ministry of Regional Development, about 66.2 million m2 of accommodation was built in Russia last year. The ministry projects that in 2013 the level of accommodation constructed will reach 71 million m2 and adding that in 2020 the amount for annual real estate constructed in Russia will probably be 142 million m2.