Moscow constructed more skyscraper housing than ever in 2020

RUSSIA / FSU POLITICS - In Brief 21 Feb 2021 by Alex Teddy
On February 16 a report by Capital Group showed that construction boomed in Moscow in 2020. Construction was allowed for all but the first few weeks of lockdown.860 000 square meters of housing was builty in skyscrapers. That is 17 200 ordinary apartments. A residential skyscraper is defined as 33 storeys more.Construction is one of the few growth areas in the economy. Low interest rates have helped and the state's low cost mortgages. These cheap mortgages will last until 2024. The Central Bank of Russia is nervous because this has led to more risky borrowing. Construction was 24% up in Moscow YoY in Q4 2020. High rises were even faster than that: 60 % up.Skyscrapers comprise 20% of Moscow housing. These skyscrapers are at least 100 m tall. Note that the boom is in Moscow and not so much the rest of the country.

Now read on...

Register to sample a report

Register
Sign-in
Forgot your password?
Copyright 2024 GlobalSource Partners. All rights reserved. This is prepared for GlobalSource Partners’ clients and may not be redistributed, reproduced, stored in a retrieval system, retransmitted or disclosed, in whole or in part, or in any form or manner, without the express written consent of GlobalSource Partners. This is distributed simultaneously to our website and other portals used by GlobalSource Partners. The information herein was obtained from various sources and is believed to be reliable but GlobalSource Partners does not warrant its completeness or accuracy. Neither GlobalSource Partners nor any Country Analyst, officer or employee accepts any liability whatsoever for any direct, indirect or consequential damages or losses rising from any use of this or its contents.