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Housing market: something for developers to think about

Dom.RF has launched a new program to support the development of housing construction, which is specially designed to stimulate the emergence of green and energy-efficient houses. Also, the Ministry of Construction intends to raise the issue of price per square meter for citizens

Project of residential buildings and courtyard area in Moscow. Photo: AGN “Moscow”

Developers have been discussing two pieces of news with particular enthusiasm in recent days. First seemed to From the lips of Nikita Stashin, Deputy Minister of Construction and Housing and Communal Services at the XVII Moscow Real Estate Market Forum MREF 2023: The Ministry of Construction – perhaps for the first time as a ministry – intends to raise the issue of price per square meter for citizens. meter.

“Now is the time to look carefully at what determines the cost per square metre, assess the situation with cost and profitability of projects so that housing can be affordable. We will now take up (the issue) and we will look at all the components together with the regulators of the central bank, the finance ministry, banks, industry and trade ministry colleagues who are responsible for the production of construction materials. Other industries, and FAS. We will also look at the areas,” Nikita Stashin said, stressing that the price per square meter is a black spot that needs to be resolved.

Continuing the topic, the head of NOSTROY, Anton Glushkov, said that by sorting out all the components of the construction process, from the production part to the financial part, it will be possible to understand which strings can be “pulled”. Optimize construction costs. And as a result, housing prices continue to rise, despite numerous efforts to cool the market.

However, neither the development community nor the Ministry of Construction and the Ministry of Industry and Trade can resist inflation, the consequences of an increase in the key rate, an increase in prices for building materials and a number of other circumstances – it is difficult Alexander, President of Baker Asset Management Debate this statement made by Sharapov at MREF 2023. According to his estimates, not only on Russian, but also on international practice, no matter what one does, real estate prices are guaranteed to double, and possibly triple or quadruple in the next ten years.

The second news came a little earlier from the offices of Dom.RF*: a new mechanism to support the development of housing construction in Russia has been launched. To subsidize development projects, Dom.RF allocated 2.6 billion rubles.

The new program will be implemented in 39 areas of the country with inadequate housing construction. And, what is especially important, it, according to the relevant Deputy Prime Minister Marat Khusnullin, “is designed to encourage green and energy-efficient construction. “Such projects will not only help in improving the quality of life of the citizens, but will also preserve the environment.” (As Deputy Prime Minister of the Russian Federation Victoria Abramchenko emphasizes, construction and housing and communal services now account for about 25% of all emissions, so green and energy-efficient construction is one of the key tools for protecting and improving the environment. Becoming a quality of people’s life.)

The implementation of the program will limit developers’ financial risks by reducing the rate of filling escrow accounts and will partially reduce the risk of suspension of construction financing by creditors, thereby preventing delays in the commissioning of facilities. “The program reduces the rate under loan agreements for project financing of developers to a level not exceeding the key rate for new projects in the context of rising market rates following the key rate of the Bank of Russia. is important. If developers are building green apartment buildings, the rate will be further reduced by 2% depending on the energy efficiency class and compliance with certain criteria of the green national standard GOST R,” explains Dom.RF.

For reference: National Standard for green construction of apartment buildings (GOST R 70346-2022), developed by Dom.RF together with the Ministry of Construction and adopted by Rosstandart, entered into force on November 1, 2022. One of the key criteria of the standard is the high energy efficiency class, which allows to reduce the consumption of thermal and electrical energy. At the moment, Dom.RF has completed a pilot assessment of the green standard for apartment buildings of five projects (in the Moscow region, St. Petersburg, Yekaterinburg, Baikalsk and Vladivostok) and is in the process of developing a uniform standard for. Individual housing construction block.

“By launching a new support program, we want to connect the needs of people to improve living conditions and the aspirations of the state and businesses interested in building green housing. As a result, we will improve the quality of life of Russians, reduce the negative impact of construction on the environment and climate, and primarily support socially responsible business, ”says Vitaly Mutko, General Director of Dom.RF.

*Available on BFM.ru

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