The North Caucasus has become the leader in housing rates in the Russian Federation

 

Photo: RIA Novosti/Said Tsarnaev

In September 2024, the area of ​​apartment buildings under construction in the regions of the North Caucasus Federal District (NCFD) increased by 57% compared to September 2023, which is almost four times higher than the average growth rate in the Russian Federation. Such data was provided to Stroygazet by experts from the KEY CAPITAL company.

“There is a boom in multi-apartment housing construction in the North Caucasus Federal District. In September 2024, developers built 3.98 million square meters of housing here, while a year earlier this figure was 2.54 million square meters. Over 12 months, the construction area in the district increased by 57%, while in Russia over the same period it grew from 102 to 115 million square meters, that is, only 13%.

A similar picture is observed in other federal districts: in the Far East, the growth was 35%, in the Urals Federal District - 29%, in the South - 12%, in the Volga Federal District - 9%, and in the Northwestern District, the construction area remained at the same level," KEY CAPITAL indicated.

At the same time, in the North Caucasian Federal District, there are both leading and lagging regions in terms of construction rates. In Karachay-Cherkessia, the construction area increased from 66 to 167 thousand square meters, which is 153% more than the previous year. In the Republic of Dagestan, the growth was 138% (from 284 thousand to 676 thousand square meters), and in the Chechen Republic - 128% (from 244 thousand to 558 thousand square meters).

More modest growth rates were noted in Stavropol Krai, where the construction area increased by 40% (from 1.32 million to 1.85 million square meters), in North Ossetia - by 20% (296 thousand to 356 thousand square meters), and in Kabardino-Balkaria - by 15% (from 302 thousand to 348 thousand square meters). In the Republic of Ingushetia, the construction area remained at about 31 thousand square meters.

The North Caucasus Federal District (NCFD) is a federal district of the Russian Federation in the south of the European part of Russia, in the central and eastern part of the North Caucasus.

The North Caucasus Federal District includes 7 constituent entities of the Russian Federation with an area of ​​170,439 km² (1% of the territory of the Russian Federation) and a population of 10,251,083 people (7.01% of the population of the Russian Federation as of January 1, 2024). The administrative center of the NCFD is the city of Pyatigorsk.

The North Caucasus Federal District includes:

The Republic of Dagestan, the Republic of Ingushetia, the Kabardino-Balkarian Republic, the Karachay-Cherkess Republic, the Republic of North Ossetia-Alania, the Chechen Republic and Stavropol Krai.