18 Apr 2017 16:45

Housing construction in Russia plummets 15.8% in March

MOSCOW. April 18 (Interfax) - A total of 4.9 million square meters of housing was built in Russia in March 2017, 9% less than in more than in March 2016, the Federal State Statistics Service (Rosstat) said.

Decline in housing construction slowed from 17% in February and 21.6% in January.

A total of 13.1 million square meters of housing were completed in January-March 2017, 15.8% less than in the same period of last year.

Construction volume fell 5% year-on-year in constant prices in March 2017 to 407.1 billion rubles and fell 4.3% in Q1 to 995.3 billion rubles.

Housing construction fell 6.5% to 79.8 million square meters in 2016.