Housing was missing meters – Newspaper Kommersant No. 223 (7424) dated 12/01/2022
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In October, as follows from the Rosstat report published yesterday on the socio-economic situation in the Russian Federation, the decline in housing commissioning continued – 8.7 million square meters were commissioned over the month. m, which is 10.6% lower than the same period last year. The volume of commissioning as a whole for ten months remained “in the black” – 87.8 million square meters. m, which is 21.5% more than in January-October 2021.
The overall positive dynamics is mainly due to the high growth rates of the commissioning of individual housing construction (IZHS), which accounts for more than half of the total area of housing built. Such rates were observed throughout almost the entire year due to the “post-COVID” growth in demand, which was also associated with measures to support this construction segment. In January-October, 54.2 million square meters were commissioned in the “private sector”. m (33% more than a year earlier).
However, now the volume of commissioning in individual housing construction is slowing down – in September, for the first time since the beginning of the year, this sector lagged behind the pace of 2021 (the decline was 7.5%). The same happened in October – the volume of commissioning of private houses amounted to 5.1 million square meters. m, or minus 9% by October 2021. As the National Agency for Low-rise and Cottage Construction (NAMIKS) explains, the most likely reason for this dynamics is seasonal fluctuations due to the usual decline in the suburban construction market in the fall – the statistics of individual housing construction have been conducted not so long ago, but since 2019 a decline has been recorded in October (in this year it shifted to September).
Negative trends in the multi-apartment housing sector are longer – the drawdown in annual terms began in June (although so far the indicators remain within the average monthly commissioning level). Such dynamics is connected with a complex of reasons – both with the high base of 2021, which has become a record year for the housing construction industry, and with the increase in the timing of the implementation of projects by developers due to difficulties amid sanctions, supply chain breaks and rising costs of building materials. In October, the commissioning of apartment buildings amounted to 3.5 million square meters. m, which is 17% less than a year earlier, when 4.1 million sq. m. In total, in January-October, 33.6 million square meters were commissioned. m is 5.6% more than in the same period in 2021.
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