President of Bashkortostan Rustem Khamitov yesterday criticized the management of banks operating in the region for insufficient participation in lending to housing programs. In his report, he noted that a more than twofold increase in the volume of mortgage loans in 2011 (2.5 times compared to 2010, totaling more than 13 billion rubles) led, among other things, to an increase in the cost of housing in the republic: in the primary market by 4%, in the secondary by almost 10%. He also considered the reduction in the average mortgage rate from 13.5% to 12% insufficient. “12% is certainly a high rate. I understand that by directive method it cannot be turned into 8, much less 6%, but, of course, we need to work to ensure that it becomes lower,” Mr. Khamitov called on the bankers. He warned that the region’s leadership has “big plans for housing construction,” including the delivery of more than 2.3 million square meters this year. m of housing, and in 2014 - 2.8-2.9 million square meters. m, and the government intends to change the current ratio of individual construction, which prevails in the region, to multi-storey housing. The head of the region also stated that there is a “huge shortage of economy-class housing” in the republic. “If we do not solve this problem in the near future, I am sure that other people will solve this problem,” he warned, recalling that “society is no longer ready to tolerate such slow work in this area.” He called on bankers to invest in laying utility networks for the development of new construction sites near Ufa, since their cost “is off the charts for several billion rubles, which are simply not in the republic’s budget.” The republic’s authorities expect to “stimulate the construction of economy-class housing” by financing engineering infrastructure through state support and attracting project financing from banks, the president of the republic said. “Without this increase in lending, we will only “accelerate” prices per square meter,” warned Rustem Khamitov and drew attention to the fact that now in the region “there is no economy-class housing”, the interest rates on loans for which the authorities could subsidize. “You and I are guilty of this too. We subsidize interest rates, but there is nothing to buy,” he concluded his critical speech.

Irina Samoilova

Kommersant (Ufa) No. 13 from 01/26/2012, p. 8

The head of Bashkortostan criticized bankers