MOSCOW, Dec. 27 (Xinhua) — Sales of new homes in Russia in the second half of 2024 stabilized at about 2 million square meters per month, down by 20 percent from the first half, Russia’s RIA Novosti news agency reported on Friday.
The overall sales of new housing units in the first 11 months fell to 24.5 million square meters, a 19 percent year-on-year decrease, said the report, citing Russia’s leading housing development company Dom.RF.
The decline, however, has not yet affected the project financing model for developers. For projects slated for completion in 2025, 47 percent of the planned housing areas were implemented.
But analysts at Dom.RF cautioned that sustained high interest rates and low sales volumes could jeopardize projects with long-term completion timelines and the launch of new projects unless additional support measures are introduced.
