ABSTRACT
The article analyzes the social and economic consequences of the construction sector development in the Russian Federation. The role of housing construction as a direct sphere of material production influencing the quality of life of the population is revealed. It is shown that the development of housing construction depends on the availability of various sources of financing. Problems of housing construction development at the end of the last century – the beginning of the 2000s were revealed with St. Petersburg as an example. The reasons for the emergence of the category “defrauded equity holders” in the housing market are analyzed. The article shows how project financing can reduce risks for all participants in housing construction (banks, developers and consumers). The statistics of transition to project financing of housing construction participants is presented. Particular attention is paid to the peculiarities of the practice of applying project financing in Russia.
