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Financial crisis hits Orenburg construction industry

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Within last two months, the price of one square meter practically has not change in Orenburg. The price of one square varies on average from 29,500 rubles to 32,000 rubles. The price of a square meter in premium new buildings in the center of the city reaches 60,000 rubles. Igor Udovichenko, the director general of UPSK said in a conversation with a REGNUM correspondent that the situation in the construction market is very bad at the moment. Purchase ability of population diminished sharply.

“In my knowledge, there is no single bank for today which grants mortgage credits”, stressed Udovichenko. It is caused by the change of interest rates. According to  Udovichenko, if the state does not interfere in the situation, builders will stop building housing. First of all, it will extend to that that individuals will lose their jobs. Construction industry will not survive under such terms and will re-orientate itself. “Now some organizations in Orenburg have already frozen some objects of construction”, informed the speaker and stressed that, if things go further the same way, most part of half-constructed houses will be frozen.

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