New building prices continue to increase in Russia 11:56

The cost of new buildings in Russia’s 18 largest regional markets reached 175.5 thousand rubles in mid-October. per square metre. writes about this “Kommersant” With reference to data from CIAN.Analytics.

Prices increased by 0.6% last month, while the increase in the previous 30 days was 0.2%. Etazhi states that the prices of new buildings in Russia increased by 0.9% to 138.7 thousand rubles. per square metre.

Alexey Popov, head of CIAN.Analytics, said that the structure of the real estate market in large cities is changing in favor of more expensive projects.

“Now, all other things being equal, it is easier for developers to agree on a project for a more expensive segment,” the expert said.

The average cost of primary real estate in Moscow was 377.6 thousand rubles. per square meter in St. Petersburg – 256.9 thousand rubles. During the month, the figures increased by 1.2% and 0.9% respectively. In Nizhny Novgorod, prices increased by 2.3% to 203.5 thousand rubles. per square metre.

In mid-October, the volume of new building supplies in Russia’s largest regional markets decreased by 3% compared to September. Etazhi predicts that pre-New Year sales will begin in the main real estate markets of the largest cities in November, which could increase buyer activity by 5-7%.

Yandex Real Estate warns that the downward trend in the market will continue in the long term due to the Central Bank’s actions aimed at cooling the market.

Before this, the reason for the increase in new building prices in Russia was known. According to Evgeniy Shlemnikov, deputy head of the public organization “Support of Russia”, the increase in the cost of primary housing is associated not with objective factors, but with the unreasonable appetites of developers. He emphasized that a significant part of the housing cost, namely interior decoration, can be done much cheaper.

existed before named Cities with the cheapest square meters in new buildings.