In 2020, indicators of project financing of equity housing construction showed an increase, including on the back of government support measures.
The amount of funds placed by equity construction participants in escrow accounts grew eight times over the year and as of 1 January 2021 exceeded 1.19 trillion rubles. At the same time, 126.7 billion rubles from escrow accounts for completed construction projects have already been transferred to developers or used to repay the loans they received for their operations.
The total limit of the existing credit agreements between banks and developers has tripled over the year and amounted to more than 2.72 trillion rubles as of 1 January 2021.
Further details of developments in residential construction financing are published on the Bank of Russia website.
This news item was originally published by the Central Bank of the Russian Federation (CBR RU). For more information, see the Source Link.