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Go bankrupt builders of housing in Russia

Massively go bankrupt builders of housing in Russia
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Банкротятся строители жилья в РоссииPhoto: gigados.ru

The number of bankruptcies among home builders soared to 5 times.

Sad statistics released by the Rating Agency of the building complex. As it turned out, in 2015 in Russia went bankrupt about 2,700 firms-developers. This is a once in 5 times more, than in 2014. the Rate of increase in the number of bankruptcies in the industry in the current year is also not encouraging. Only in January, 2016 army bankrupt added 167 new firms… And is by 81% more than in January of 2015.

According to analysts, heaviest crisis hits small business, whose representatives in the construction industry act as contractors and subcontractors.

The main problem of developers is outstanding financial obligations. The construction industry accounts for about 16% of the unpaid debts.

In addition, construction work has increased in price by 8 – 10%, while customers of its costs to increase do not want. First and foremost it is about the state and municipal orders.

To some extent the problems of the industry are associated with risk and policy builders. Their plans for a long time built on the “best screenplay” and was not afraid to invest the money received from customers in one facility on the development of other projects. However, in recent year the market situation has changed dramatically and now is very different from optimal. As a result, to close the obligations to the customers that already paid for its facilities, construction firms are forced to borrow on unfavourable terms, and are in bondage. All available space in the buildings at the end are pledged to the Bank, and one inappropriate movement or an unfavorable combination of circumstances for the owner has become bankrupt.

According to official information of Rosstat, the volume of construction in 2015 has decreased, but not very much – only 0.5%. However experts relate to the data critically, so as to include the objects previously stated. The share of new facilities in the total volume of construction falls literally.

Rating Agency building complex estimates the fall in the volume of construction works in 2015 at 7%, and this is a very bad and disturbing result. However, in the crisis of 2008 – 2009, the situation was still worse, since then the builders could not even lean on the current practice of subsidizing mortgage rates. However, the reason for joy no. Dynamics of development of construction industry has been negative. Developers massively priostanovleno, and experts fear a sharp rise in the number of unemployed in the industry, which by some estimates may reach 700 thousand people. Of potential customers willing to buy housing in the mortgage, all is often not even afford the entry fee.

Given the fact that construction is always an important “razogrevaem” of the economy taking place in the industry is alarming about what is happening in Russia as a whole.

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Tags: residential construction, construction in Russia, the Economic crisis in Russia, Rosstat

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