Real estate construction reduced in Russia to 13 %

According to Rosstat there was recorded peak reduction of constructing projects in the most favorable building month – in June. Participants of the constructing market point to the fact that market decline considerably exceeds official 13% , as June is the month of the most work volumes carrying out.

Experts believe that at the year-end the figure is to amount to 40%. In 2009 there was no new constructing projects starting. Developers prefer to complete the project in the closing stage. Experts assume that the reviving of the constructing market will take place not earlier than 2012.

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