Report Published: "Construction in Russia - Key Trends and Opportunities to 2017"

The Russian construction industry recorded a nominal CAGR of 9.68% during the review period (2007-2012). Realizing the importance of modernizing infrastructure to achieve long-term growth, the government has announced large-scale investment in road and rail infrastructure. Construction related to the 2014 Winter Olympic Games and the 2018 FIFA World Cup is anticipated to support growth in all construction markets. In particular, infrastructure construction is projected to remain the fastest-growing construction market over the forecast period (2012-2017). The Russian government has signed decrees to improve the nation's housing situation; measures include the controlling of mortgage rates, commissioning the construction of affordable housing and providing land to developers free of charge.

Full Report Details at
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Key Highlights

* Russia's real GDP growth moderated from 4.3% in 2011 to 3.4% in 2012. Excluding a 7.9% decline in 2009 on account of the global financial crisis, the rate of growth in 2012 was the slowest since 1999. Russia's economy is expected to grow by 3.3% and 3.6% in 2013 and 2014 respectively. Private consumption growth, supported by rising real wage gains and low unemployment rates, is anticipated to remain the nation's key economic driver.
* The Russian construction industry recorded a nominal CAGR of 9.68% during the review period (2007-2012).
* Infrastructure was the largest construction market in Russia in 2012. The market was subject to several decades of under investment and has been struggling to support its own rapid growth since the early 2000s. Excessive bureaucracy and widespread corruption discourage foreign companies from establishing construction projects in Russia.
* Infrastructure demand will be framed by Russia's hosting of a number of major events, including the 2018 FIFA World Cup. There are 11 host cities for this event, implying a broad demand for stadia, transport infrastructure and accommodation.
* Consumer spending accounted for 52.1% of Russia's GDP in 2011. Russia will depend on domestic demand to maintain growth, as the Eurozone debt crisis will continue to adversely affect exports.
* Russia's industrial output growth has fallen as a slowing domestic economy and weakening exports hurt demand. Despite high inflation rates, Russia's central bank indicated that it could decrease its central interest rate in an attempt to stimulate growth.
* The regained buoyancy in the housing property market was a due to buyers hurrying to invest in property, viewing real estate as a secure long-term investment and sellers wanting to offload property fearing devaluation. By mid-2012, Russian property price growth was among the fastest in the world.

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