Indicators of project Finance equity in housing construction in may continued to rise, according to the results of the survey of banks, opening of a current account developers escrow account. However, the pace of growth as in April, continued to decline compared with the beginning of the current year, due to the influence of restrictive measures caused by the epidemic of the coronavirus.
The number of accounts escrow for may increased by 12.1 thousand, or 14%, and amounted to 100,2 thousand. The amount of funds placed by the participants of shared construction on escrow accounts, increased by 11% to 352,7 billion.
Banks by 1 June 2020, more than 1.2 thousand signed loan agreements with developers. The amount of the credit lines exceeded of 1.39 trillion rubles, the developers have already chosen 481,2 billion, based on its cash requirements for construction.
The average interest rate on loans to developers has not changed and is in the range from 3.9 to 5.5% (by Federal districts). For each specific contract its size significantly depends on the volume of funds accumulated on the accounts of the escrow, as well as other factors (e.g., programs to support developers of small and medium enterprises).
In 47 regions of Russia completed 154 project using escrow accounts, which revealed almost 7.9 thousand accounts escrow, the amount of money transferred from them to the developers and banks in repayment of loans reached almost 17,0 billion.
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