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27 May, Wednesday

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Молния

Loans issued to construction industry of Bashkiria increased to 25.1 billion rubles

Economy/Business

The volume of bank loans granted to the construction industry exceeded 25 billion rubles in Bashkiria last year. It is 16.1% more than in 2018. In Russia as a whole, this indicator amounted to 18%, the press service of the National Bank RB reports.

As the Bashinform News Agency reported, the volume of housing commissioned in multi-apartment buildings increased in Bashkiria by 11% last year. In the first two months of 2020, developers — legal entities put into operation 128 thousand square meters of housing. It is 114.1% higher than in the same period last year.

As for loan agreements with developers using escrow accounts, Bashkiria is in seventh place among the regions of the Volga Federal District. The Bank of Russia reports such data at the beginning of March.

Recall that the Head of Bashkortostan Radiy Khabirov announced that the authorities should participate in the project financing of housing construction, after hearing reports from developers and credit organizations on the transition to a new form of construction financing.

Since July 1 of last year, raising funds from participants in shared construction is allowed only with the use of escrow accounts. According to the new model, financing is carried out at the expense of a loan established by the bank and the developer’s own funds. Funds for escrow accounts are available to the developer only after the construction is completed.

Galina Bakhshieva /translated by Tatiana Aksyutina
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