The share of individual housing construction in housing under construction will remain at a level of at least 50%
The Russian Ministry of Construction intends to maintain the volume of individual housing construction (IHC) at a level of no less than 50% of the total housing commissioning per year.
Nikita Stasishin, Deputy Minister of Construction and Housing and Public Utilities: “The volume of IHC construction has historically been no less than 50% of the total commissioning. Considering that, on the instructions of the President of Russia, a mechanism for the construction of IHC through escrow accounts will be launched on March 1, we need to maintain this figure at this level”.
From March 1, a payment mechanism through escrow accounts, previously used in multi-story construction, will come into effect in the construction of private housing. Thus, the contractor will be able to receive funds only after the completion of construction, which will ensure compliance with deadlines and the quality of work.
The introduction of escrow accounts will create additional demand for wooden housing construction, which remains the most popular in the IHC segment. According to Rosstat statistics, by the end of 2024, 62.3 million m2 were for individual housing construction, which is 58% of the total volume of housing commissioned. At the same time, wooden houses accounted for 40% of the structure of individual housing construction. Since 2019, the volume of construction of wooden houses has increased significantly: from 8.8 to 15.7 million m2 per year.
