Russian Homebuyers Face Prolonged Delays
Russian homebuyers are facing significant delays as the country’s construction sector shows sharp signs of slowdown. A housing boom driven by state-backed mortgage subsidies helped push record output in 2023, but the rollback of support measures and rising borrowing costs have since triggered a major downturn. Reports indicate residential completions have fallen nearly 28% year-on-year in the first quarter, while major lenders warn that the construction sector is now stagnating.
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