Experts' opinion

Nazarov Andrey

Co-chairman of non-governmental organization Business Russia (Delovaya Rossia), Chairman of board of directors of Granelle group

Andrey Nazarov: construction industry needs further support


“Among the steps that could improve the situation in the construction industry I offer the following: reducing the rate of the mortgage rate to a level of 7%; as a result midrange monthly payment will drop to 15 000 rubles and a number of mortgage borrowers will triple. I also think that we need to reduce the rate of initial payment on the mortgage to the level of 10%, and make efforts for further reduction of administrative barriers in the industry,” Andrey Nazarov said.
He noted that in 2015 the number of registered shared construction participation agreements in Moscow decreased by 18%.

“On a nationwide scale figures are even worse – 20%. In terms of square meters, taking into account the decrease in living floor space of apartments in the new projects, the reduction is about 30%,” said Nazarov. The expert also cited statistics of unemployment in the construction industry.

“During 2015 the total number of workers decreased by 4% – that amounts to more than 70 000 people. And it is only those who are directly involved in the construction. If we consider the related industries, the figures will be even high”, he said.

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