The number of mortgage deals in Kazan increased by 25% compared to last year

(KZN.RU, November 27). The mortgage in Kazan shows positive dynamics. For 9 months of this year, mortgage deals were registered for a quarter more than the same period last year. Ildar Shakirov, the deputy head of the Executive Committee, responsible for transport, economic development, and trade, reported this on the Business Monday.

Speaker said that over 9 months of 2017, more than 500 thousand square meters of housing was delivered in the city, which is 9% higher than last year. At the same time, almost 28% of this is built on the social mortgage program. In addition, the citizens built 335 individual houses in the city at their own expense and attracted loans. According to Ildar Shakirov, the total area of such houses was 53.5 thousand square meters, which is 12% more than the same period of 2016.

The volume of work of large and medium-sized enterprises in the construction industry amounted to almost 20 billion rubles, which is 17% lower than in the previous year. As the deputy head of the Executive Committee explained, this is due to a number of following factors: a decrease in the profitability of construction, complicating the terms of lending to developers, volatility in the construction materials’ market, and a decrease in the orders from the state. At the same time, the Tatarstan’s capital is in the top five among the major cities in terms of construction, the delivering of housing, and the delivering of housing per capita.

“The economy of the city is working, we are confident in the future. This is the most important result”, Ilsur Metshin, the Mayor of Kazan, said about the main results of social and economic development for 9 months of 2017. He noted a number of positive points: increasing of investment in fixed capital, increasing average salaries and retail trade, reducing unemployment, and increasing housing construction.