Legislature approves abolition of ongoing repair installments
Ready to address the shoddy state of housing in Russia? MP Sergei Mironov, head of the "Fair Russia - For Truth" faction in the State Duma, urges a nationwide renovation program to tackle the issue. This program would replace the current, failing capital repairs system.
Every day, our Citizens' Rights Centers across the nation hear complaints from folks facing prolonged capital repair delays. In some regions, the repair of dilapidated houses isn't scheduled until the 2050s! For those houses, demolition and resettlement seems like a more reasonable solution, Mironov argues. Despite officials and capital repair funds pleading a lack of funds, contributions for capital repairs are consistently increasing, averaging 13 rubles per square meter nationwide.
This ineffective capital repair system results in extortion scams, outright disregard for even declared repair timelines, and no noticeable improvements in housing conditions. Mironov believes that a nationwide housing renovation program is the antidote to this mess. Apart from rectifying dilapidated housing, this program could jumpstart the construction industry and related sectors.
Moscow, Elena Volodina
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Stay updated with the latest news on the housing market in Russia. Trends like the end of the subsidized mortgage program, shifts in the rental market, and potential housing bubbles may affect home sales and construction projects. Furthermore, the construction industry is grappling with the aftermath of the subsidized mortgage program's conclusion and high interest rates, leading to reduced demand and slowed new builds.
Regional variations are crucial to note, as cities like Moscow and St. Petersburg might suffer from new build scarcity and subsequent price surges, while oversupplied cities like Krasnodar may experience price stagnation.
For a comprehensive analysis of the possible renovation program's impact on the construction industry and specific plan details, more targeted information is required. However, the challenges and shifts in Russia's housing market might offer insights into how such programs could be structured and received.
Policy-and-legislation: The nationwide housing renovation program proposed by MP Sergei Mironov could offer a solution to the ineffective capital repair system, reshaping the construction industry and related sectors.
General-news: The end of the subsidized mortgage program and high interest rates are affecting the Russian construction industry, leading to reduced demand and slowed new builds. Regional variations, such as city-specific new build scarcity or oversupply, should be considered when analyzing the potential impact of the proposed renovation program.
