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25 April, Thursday

Ufa   °

Number of shared-equity construction contracts increased by one third in Bashkiria

Economy/Business

UFA, 20 March 2019. /Bashinform News Agency/ translated by Tatiana Aksyutina/.

In February, the number of mortgage contracts increased by only 2% in Bashkortostan, and the shared-equity construction contracts increased by 32%. The figures are given in compared with February 2018.

Thus, last month 1701 equity contracts were registered (1284 in February last year), and 7051 mortgage documents (there were 6861 a year ago), the regional department of the Federal Registration Service reported.

Total, the number of shared-equity construction contracts increased by 28% and amounted to 22027 for 2018.

Mortgage in the republic grew from 2015 to autumn 2018 — the main driver of growth was a decline in mortgage rates and stable prices in the real estate market.

This year, industry analysts predict a decline in housing construction in connection with the transition to project financing, because of which the cost of new buildings will grow by up to 20%. At the same time, the period of the cheapest mortgage has passed: following the key rate growth, banks have increased loan interests.

Tags: construction
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