Moscow can not cope with the construction of housing

Nedvizhimost11-01-2009, Moscow can not cope with the housing construction plan of the government of Moscow for the construction of the city over the past year seems to be shortfall of approximately 1.3 million square feet. m. However, the decline in construction is not unique to the segment of social housing. In 2009, this trend will gain momentum. Most new buildings will be frozen. Decline in housing prices will continue. The plan to build housing in Moscow in 2008, is likely to be shortfall of approximately 1.3 million square feet. m. According to the plan in Moscow planned to build 5.3 million square meters. m of residential areas. However, the crisis has corrected building ambitions, which will be built only 4 million square feet. m. of housing. "The financial crisis has made adjustments to the plans of the city government, and authorities were forced to adjust the targeted investment program for 2009, funding for which has decreased by almost 25% and now stands at 475 billion rubles." - Said the head of department of economic policy and development of Marina Ogloblina the words quoted by Interfax. However, the decline in construction of residential property in Moscow will affect only commercial housing, said M. Ogloblina. The following year, authorities plan to build in Moscow, 2.5 million square meters. m social housing, which exceeds 2008.