Russian Housing Market Starts Year with Growth: New Projects and Housing Completions Outpace Last Year

© ООО "Региональные новости"

The Russian government has released preliminary data for the first weeks of the year in the construction sector, highlighting robust growth across key metrics.

As of January, the total volume of residential properties under construction reached 116 million square meters, a 2% increase compared to the same period last year. This indicates steady demand and ongoing project implementation in the developer market.

One of the most notable trends is the acceleration in launching new construction projects. Since the start of the year, developers have initiated work on 4 million square meters of residential space, marking a 34% increase compared to the previous year. This surge reflects increased investment activity and confidence in future demand.

Positive dynamics are also evident in the non-residential real estate segment. As of February 1st, 1.9 million square meters of administrative, commercial, and industrial properties have been commissioned, representing a 19% increase year-on-year.