The figure is up from 813 in 2008 but down from 1,542 in 2007.

Completions rose by 37.4% in Moscow and by 83.8% in Russia's regions but fell in the Moscow region by 18.9%.

The group sees stable demand in mass market housing segment and forecasts continuing sales growth in 2010 given the lack of supply on the market.

And the firm says it is seeing signs of recovery in the availability of affordable mortgages.

Story provided by Business Financial Newswire