The head of the Ministry of Construction expects a decrease in housing prices in Russia in the near future
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The current situation on the Russian housing market will force developers to cut prices in the near future. This opinion was expressed by the head of the Ministry of Construction Irek Faizullin.
“When purchases stop, the market will still require developers to reduce and find a compromise with buyers. Therefore, I hope that the decline may begin in the near future,” Mr. Faizullin told reporters (quoted by RIA Novosti).
March 27, Deputy Minister of Construction Nikita Stasishin declaredthat a decrease in the cost of housing in Russia under current market conditions in the construction industry should not be expected. Bank of Russia pointed outthat the cost of housing in the country, despite the preferential mortgage, since 2020 has grown significantly faster than the income of the population. The regulator pointed out that during this period, prices for new buildings and the difference between the cost of primary and secondary housing have grown significantly.
Over the past three years, primary housing in Russia has risen in price by 82%, to 141.2 thousand rubles. per sq. m, analysts calculated “Cyan”. According to Dom.RF, the share of unsold housing in new buildings exceeds 40% – about 42 million square meters. The indicators of the average sale of projects under construction, according to the statistics of Dom.RF, are at the level of 28%.
On the situation in the housing market column Correspondent of the department of the consumer market “Kommersant” Alexandra Mertsalova.
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