For the last few years, the most popular types of apartments among Russians have been one-room living quarters and the small “kopek piece”. Against this background, the average real estate area in new buildings began to decline, opens Words from Irina Radchenko RT, vice president of the International Academy of Mortgage and Real Estate (MAIN).
According to the statistics of the Institute of Urban Economy Foundation, from 2010 to 2021, the average apartment area in new buildings in Russia decreased from 62.7 to 52.3 square meters. According to Radchenko, the dynamics were also affected by the significant increase in the prices of objects in new homes.
“For several years, Russians are most in demand for small one-room or two-room apartments. Especially during the pandemic, the cost of housing has increased significantly, so large apartments have become inaccessible to most citizens. The situation may be affected by the incentive programs of the authorities. Without their intervention in the process, the contractors will design even smaller residences to reduce the overall cost, but the price per square meter will remain high,” Radchenko concluded.
April 24, the newspaper Kommersant cites the statistics of analysts at the Institute of Urban Economy knowledgeableThat the cost of apartments in new buildings in large settlements in Russia has increased by an average of 76% in four years and has reached the ceiling. By 2030, housing prices in the country’s 17 major agglomerations are likely to remain at the 2022 level or fall.