St. Petersburg housing construction crashes to fifth

Moscow led Russian regions in housing construction as developers completed projects totaling 120.1 million square meters by Oct. 1. DOM.RF analysts found that developer portfolios expanded 2 percent compared with the previous year, and increased 0.6 percent in September. Experts forecast that construction volume will decline in the coming periods.

Krasnodar Krai ranked second in new residential buildings, and Moscow Oblast placed third. Sverdlovsk Oblast and St. Petersburg completed the top five positions in the assessment.
 

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