Key indicators of project Finance in June increased significantly

The rate of growth of the main indicators of project financing equity housing after a decline in April—may, recovered, and in some respects exceeded the growth rate of the beginning of the year, according to the results of the survey of banks, opening of a current account developers escrow account. The market recovery was facilitated by measures taken by the state to support the construction industry.

Thus, the number of accounts escrow for the month increased by 21.6 thousand, or 21%, and exceeded 121,7 thousand. The amount of funds placed by the participants of shared construction on escrow accounts, increased to 420,3 billion, an increase of 20%. This is the maximum growth rate from the beginning of 2020.

Banks of July 1, 2020, entered into with developers almost 1.4 thousand loan agreements. The amount of the credit lines exceeded $ 1.45 trillion rubles, the developers have already chosen 534,1 billion, based on its cash requirements for construction (growth from the beginning of the year nearly 90%).

The average interest rate on loans to developers is in the range from 3.7 to 5.5% (by Federal districts). For each specific contract its size significantly depends on the amount accumulated in the accounts of the escrow funds, as well as other factors (e.g., programs to support developers of small and medium enterprises, programmes subsidize interest rates on loans for housing construction).

In 47 regions of Russia, there are 165 completed projects with the use of escrow accounts, which revealed more than 8.6 million escrow accounts. The amount of money transferred from them to the developers and banks in repayment of loans exceeded 18.7 billion rubles.

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