Peculiarities of the construction industry in the Arkhangelsk region

The role of construction in the development of the economic system of the state, regardless of the level of development, population and other characteristics, can hardly be overestimated. Construction is one of the most important sectors of the economy, since no industry can function without new and reconstruction of existing facilities. The terminological analysis of the concept of “construction industry” has shown that domestic and foreign authors characterize this industry as an independent one, which is associated with the commissioning of new production and non-production facilities, which includes capital and current repairs of buildings and structures, as well as their reconstruction and restoration. An urgent problem for the population of Russia is the availability of housing. By Order No. 161-r of January 27, 2021, the Government approved the list of objects that should be financed under the federal Housing project of the state program “Providing affordable and comfortable housing and communal services to Citizens of the Russian Federation”. However, it should be noted that neither new programs to increase housing affordability, nor an increase in the pace of construction can fully solve the problem of housing shortage. In 2020, 1121.6 thousand new apartments with a total area of 82,2 million m2 were built in Russia at the expense of all sources of financing, which amounted to 100,2 % by 2019. In the North-Western Federal District of the Arkhangelsk region (without auth.) in 2020, it took the 5th place in terms of the total area of residential premises (351,8 thousand m2), which is 109,2 % by 2019. For the further development of the construction industry in the Arkhangelsk region due to the possible increase in the volume of construction of residential buildings, as well as due to the transition of construction companies to escrow accounts, it is necessary to reduce the cost of housing. The likely expectations from the introduction of escrow accounts are the impact on the volume of supply and the reduction of risks for buyers by transferring these risks to developers and banks.