Residents of the Voronezh region bought housing in new buildings for 35 billion rubles in a year

In total, Voronezh residents spent 35 billion rubles on the purchase of housing in 2022. This data was published in the regional branch of the Bank of Russia.

More than 10.7 thousand apartments have been purchased by shareholders of the Voronezh region in new buildings. The buyers placed nearly 35 billion rubles in banks in escrow accounts. The money was kept in financial institutions until the construction of the houses was completed.

– People know that funds up to 10 million rubles that they deposit in escrow accounts are insured by the state. Developers will only receive them after fulfilling the conditions of the housing construction contract and putting the house into operation. Therefore, the residents of Voronezh gladly choose such a solution to the housing problem, – commented Roman Kostyansky, director of the regional branch of the Bank of Russia.

Developers concluded 123 loan agreements with banks in 2022 and received loans for the construction of houses for almost 67 billion rubles. Construction companies use these funds to build housing, and shareholders’ money is received after the facilities are commissioned.

A new form of shared construction via an escrow account has been in place since July 2019. This guarantees the security of the acquisition of real estate. According to the Bank of Russia, in less than 4 years, residents of the Voronezh region received more than 22,000 apartments in new buildings worth about 62 billion rubles.

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