Experts explained how the outflow of immigrants from Russia will affect the cost of housing 10:52

If Russia tightens conditions for labor migrants, this will cause them to leave the country. Konstantin Aprelev, deputy chairman of the Russian Association of Realtors, said that this situation will not affect the value of real estate in any way – prices for apartments have already reached record levels. This can only affect the housing delivery conditions, stated He is in talks with NSN.

Aprelev explained that the cost of apartments today is “extraordinarily high”, increasing by 50 percent during the pandemic, followed by another 20-30 percent increase due to the shift in buyer demand from primary to secondary residences.

Experts have not yet noticed a decrease in the number of immigrants, but believe that in any case, with their exit, demand will also decrease, so prices will remain the same.

“However, government documents dated March 22 allow developers to extend housing delivery deadlines without penalty. “The Ministry of Construction has already made preparations for a possible correction in demand and labor shortage in the market,” he said.

Aprelev thinks that if there is a shortage of migrant workers, it may cause a delay in the delivery of housing, but not everything is so simple and depends on the markets in specific regions. He explained that there are many construction sites where immigrants are not involved in the work.

“Given that we have not yet understood whether there will be any sanctions, it is foolish to openly predict how and in which regions this will affect,” said the vice president of the realtors’ guild.

We remind the Ministry of Labor. It has been suggested to limit The duration of employment contracts with immigrants is two years. The Ministry emphasized that this is sufficient time to complete projects in which immigrants are recruited.

Formerly in the State Duma called for “Urgent inspection” of labor migrants in Russia.