Russian Construction Week 2023: trends in residential development
The Conference on the Trends in Residential Development 2023-2024 considered topical issues of developers and residents. The event was organised within Russian Construction Week and RosBuild by the National Association of Home Builders, GMK, ERZ.RF and EXPOCENTRE AO.
The moderators were Kirill Kholopik, Head of portal ERZ.RF, and Sergey Razuvaev, Director of GMK consulting agency.
The first speaker Alexey Chapik, Executive Director of Domclik partner division, started his presentation with general figures for the real estate market. The latest figures for February 2023 show that one third of the client's income - 36.6% - is spent on mortgage repayments. According to the expert, this is an adequate figure to pay off the mortgage.
Alexey Popov, Head of Analytics at CIAN, focused the audience on ‘The new housing market in 2023 - what awaits us in the next new reality. In his opinion, the results in 2022 were higher than expected. From the record levels of 2021, the number of transactions in all segments decreased by about 20%, and in monetary terms less, which is not so bad. The construction sector has also proved to have a very effective lobby. No other industry has been helped so promptly. The real estate market in Russia retains a large capacity. At the same time, the industry is moderately dependent on imports, the analyst said.
While the first block of the conference focused on demand, supply and price, the second block focused on the development product. There were also foresight sessions attended by heads of leading property developers and development companies.
Press Service, EXPOCENTRE AO