Housing prices in Russia predicted growth of 25%

Image: portal of the mayor and government of Moscow Maxim Denisov

In Russia in the next two years the cost of housing may increase to 25%. About this newspaper “Izvestia”.

Such growth in property prices predicted in the Federation Council. Experts explain this high rate on loans to property developers and strict requirements to their own capital.

it is Noted that the builders were obliged to have its accounts the amount of 30-40 percent of the project cost. Experts believe that this may lead to increase costs by approximately eight percent.

there is Also added interest costs due to delays of payments done through the Bank. In the result, the direct costs from the developer to reach 23 percent.

in Addition, housing costs may increase because of the withdrawal from the market of medium and small construction companies. Experts believe that the growth in property prices will increase once the company will see a mass exit from the market.

In turn, Vice-Premier Marat Khusnullin noted that no mass is no problem, and those that do are resolved quickly. He explained that the government had worked out the issues with the banks for lending to small projects.

Khusnullin added that to avoid growth of prices for apartments was through a Single information system of housing construction (EISIS).

In January, analysts said, the primary housing in 2020 will grow by 10%, secondary – 6%. Developers believe that in new buildings, where apartments are bought well, growth could reach 15%.

the Cost of housing, according to experts, will increase because of the transition into the escrow account, reducing the volume of supply and mortgage rates.

According to analysts, in Russia for the 2019 primary housing prices rose by 30% to 68 thousand rubles per 1 square meter, second – by 5%, to 45 thousand rubles per 1 square meter.

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