Английский язык. Любинская Н.А - 10 стр.

                                            10
provide mortgages for housing priced at approximately 20,000 rubles (about $715)
per square meter.
       Another document will be issued in the near future containing more specific
provisions and “detailing the direction of cooperation between the region’s govern-
ment and Michinoku bank,” Levintal told reporters.
       Because of the region’s industry and geography, even in the mid-90s the real
estate markets of Khabarovsk and Vladivostok – the largest cities in the Far East –
have seen faster growth and higher-than-average prices compared with other regions
of the country, said Gennady Sternik, head of analysis at Moscow-based Miel Realty.
       The average rate for apartments currently being bought with mortgages in the
Far East is 17,548 rubles (about $627) per square meter, according to the Mortgage
Housing Credit Agency’s December 2004 figures. The average countrywide rate is
16,341 rubles (about $584) per square meter.
       “The Far East, of course, is very far from Moscow, which is a minus,” Sternik
said. “However, it is close to economically powerful neighbors like China, which is
definitely a plus.”
       China, the region’s fifth-largest investor. contributed 9.5 percent of all foreign
investment in the Khabarovsk region from 1989 to 2003. Japan contributed 14 per-
cent, coming in third behind Austria (15.8 percent) and the United States (25.3 per-
cent).
       Russia has invited Japan and China to participate in further oil-field explora-
tion and development in Eastern Siberia and is seeking low-cost loans from Japan to
build a $15.5 billion oil pipeline to Nakhodka on Khabarovsk’s Pacific coast.

Language development

III. Fill in the correct word from the list below, then make sentences using the
completed phrases.

     credit                     low-rate              interest          redional
     lower                      a shot                estate            average
     economically               foreign

1. _____________ government                  6. _____________ rates
2. _____________ investment                  7. _____________ the risks
3. _____________ mortgages                   8. _____________ at purchasing
4. _____________ markets                     9. _____________ rate
5. _____________ institutions                10. ____________ powerful

IV. Fill in the gaps with the correct prepositions.

a guarantor ___________ smth, risk __________ smth, free smb __________ smth,
to be ironed _________, an average rate _________ smth, _______ square meter,
contribute smth __________ smth, __________ coast.