While we in the U.S. are suffering through a housing slump, the old Soviet Union is experiencing a housing boom. The advent of mortgages, unheard of in old Soviet days, has sent housing demand soaring:
According to the Russian Government, about 16 billion square feet of available housing is needed to meet the present housing demand of the Russian population. Most of the current available housing in Russia is old and outdated. A recently conducted population census in Russia revealed that over half of all private householders occupy buildings that were constructed between the 1950’s and 1980’s.
If you remember the final scene in “The Bourne Supremacy,” where Matt Damon limps into the twilight amongst several old Stalin-era high-rises, you know how dismal and miserable that old housing stock is (see below).
No wonder Russians are clamoring for something better. This is a vast market that American suppliers can tap, say the experts:
There are many prime locations outside of major cities such as Moscow and St. Petersburg available to set up a manufacturing facility for prefabricated housing. The transportation network and logistics around major Russian cities is extremely developed and makes it relatively easy to transport the necessary inputs and outputs for the facility. Russia’s wide network of transportation has close to 550,000 miles of roads and a railway system considered to be one of the most extensive in the world, covering some 95,000 miles of broad rail.
Plus, there are incentives. Read much more here.
