Developers working in Yekaterinburg are facing significant losses.
Federal developers represented in Yekaterinburg have incurred financial losses in the first half of the current year. This conclusion follows from the financial reports of the companies.
The LSR Group, which was one of the active developers in the Ural capital, reported a loss of 57.6 billion rubles, which is 23 times more than the previous year. The developer attributed this to increased interest payments on loans.
The PIK Group, which exited the Yekaterinburg new housing market this year, reduced its revenue for the specified period by 11.6% to 290.1 billion rubles. The revenue of the Samolet Group decreased to 117.4 billion, which is a third less. The revenue of the Etalon company fell by 9.6% to 57.6 billion.
According to Kommersant, analysts believe that the main reason for the financial losses of federal developers was a 27% drop in housing sales in new buildings in Moscow since the beginning of the year. By the way, one in five developers in Russia has faced difficulties in repaying loans.
According to Anton Glushkov, president of the National Association of Builders (Nostroy), the situation for developers has worsened against the backdrop of falling sales and the lifting of the moratorium on penalties for delays in housing delivery. Just in March, the volume of apartment sales in new buildings in million-plus cities decreased by 1.5-2%, writes EAN.
Earlier, analysts announced the end of the new housing era in Yekaterinburg.
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Developers working in Yekaterinburg are facing significant losses.
Federal developers represented in Yekaterinburg incurred financial losses in the first half of the current year. This conclusion is drawn from the companies' financial reports.