Escrow account balances in equity construction exceed 1.6 trillion rubles

Source: Central Bank of the Russian Federation in English

30 April 2021
News

Project financing in equity housing construction continued to trend upwards in March, including owing to government support measures.

Total funds in escrow accounts placed by equity construction participants exceeded 1.6 trillion rubles as of 1 April 2021. Moreover, 247.5 billion rubles from escrow accounts under completed construction projects have already been transferred to developers or to repay loans raised for real estate construction. The overall limit under currently effective loan agreements concluded by banks and developers amounts to 3.42 trillion rubles.
More details on financing trends in equity construction are available on the Bank of Russia website.
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