Construction sector is a sector which activity directly affects interests of the majority of inhabitants of the Rostov region. It covers construction, construction industry and building materials industry. It is one of the most important sectors of the regional economy.
Constant growth of construction volumes is one of priorities in regional development. By the volumes of the new residential housing construction the Rostov region is among 10 Russian regions and ranks the 2nd place in the Southern Federal District. The overall residential housing outlook can be characterized as positive.
To ensure the growth of residential space the preparation of new areas for housing construction is being performed, and the engineering infrastructure is being actively developed.
In order to improve housing affordability and quality of housing for the population of the Rostov Region the "Providing affordable and comfortable housing in Rostov Region" State program has been approved.
Into the structure of the State program a subprogram "stimulate the housing market" has been included, it provides:
• measures aimed at reducing the average market price of one square meter of housing in the primary market;
• activities to promote the introduction of new energy-efficient and resource-saving technologies of housing, as well as the creation of conditions for the construction and reconstruction of enterprises producing construction materials, components and structures;
• measures to create rental sector.
These activities are aimed at increasing the level of housing provision, housing development, including the formation of the market of affordable low-income housing that meets modern requirements of energy efficiency and environmental friendliness.
The region is developing banking market mortgage and housing loans with other types of securities. Since 2004, the Rostov region has been included into the Federal system of refinancing of the Agency for Housing Mortgage Lending.
To ensure planned growth in housing construction the measures on expansion and modernization of industrial enterprises producing building materials and construction industry itself are being taken.
The base of building materials industry of the Rostov Region and implementation of investment projects in this area allow production of modern competitive materials needed for planned housing construction. Also it will help to create the new work positions.