The Ministry of Construction of the Republic of Tatarstan discussed forecasts for the development of the real estate market in Tatarstan

21 February 2023, Tuesday

A round table on the topic of new opportunities of the real estate market of the republic was held today in the Republican Ministry of Construction with the participation of representatives of banks and developers.  The event was attended by Deputy Minister of Construction, Architecture and Housing of the Republic of Tatarstan Ilshat Gimaev.

The Deputy Minister began his speech with information about the commissioning of housing in the republic. “Since the beginning of the year, 30.2% of the annual plan or 935 thousand square meters of housing have been handed over in the republic. This is 386 thousand square meters in the line of individual housing construction and 549 thousand square meters of apartment housing. “So far this year, the dominant role is played by the construction of apartment buildings. This is a consequence of the fact that we still have good groundwork in the fourth quarter of 2022,” Ilshat Gimayev said.

At the same time, the Deputy Minister stressed that the department has a clear understanding of how the targets will be achieved: new projects for the integrated development of territories – Bolshoy Zelenodolsk and Laishevsky junction in the vicinity of Kazan, agglomeration areas around Naberezhnye Chelny are crucial.

In addition to construction issues, the prospects for the development of the mortgage market were discussed at the round table. “In 2022, 46,483 mortgage loans totaling 156 billion 392 million rubles were issued. Of these, 13,460 loans totaling 59 billion are the primary housing market,” the speaker said.

The Deputy Minister said that last year there was a decline in the total number of mortgage loans issued by 32%. “The drop in loans issued in the mortgage market in the primary market amounted to 6.8%. But at the same time, there is an increase in the total volume of loans issued. This is due to the rise in the cost of mortgages,” Ilshat Gimayev said.

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