Kuban Leads in Housing Construction, but High Rates and Costs Hinder Sales
Kuban has emerged as a leader in housing construction, surpassing Moscow and other regions. However, high interest rates and infrastructure costs are posing challenges to sales and construction readiness.
By October 1, 2023, Kuban had built 8 million square meters of housing, taking second place nationally behind Moscow. Remarkably, Kuban has even overtaken the Moscow region in construction volume. Despite this success, Kuban's sales and construction readiness rating stands at a low 42%, indicating significant hurdles.
Experts have identified high interest rates, reduced subsidized programs, and high infrastructure costs as key obstacles. To tackle these issues, the government is considering changing support measures for the housing sector in Kuban. Additionally, legalizing installment payments and introducing new tax incentives are planned for the near future.
Meanwhile, the '7. Yacht Summit' in Anapa discussed challenges and development vectors in the regional construction industry, though details about participants remain scarce.
Kuban's impressive housing construction volume, reaching 120.1 million square meters by October 1, 2023, is a significant achievement. However, addressing the low sales and construction readiness rating is crucial for sustained growth. Upcoming changes in support measures and financial incentives aim to boost the sector's prospects.
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