By the end of the year, housing prices in Russia may rise by five to seven percent
This forecast was given by real estate experts. They explained that the increase in cost is caused by an increase in demand.
Due to a significant increase in demand by the end of this year, the cost of apartments in Russia may grow by several percent. This forecast was given by real estate experts, Izvestia reports.
In July, a three-year record was broken by the mortgage approval rate, reaching 85 percent. This happened against the backdrop of increased demand for mortgage lending programs with state support.
Home sales increased by 13 percent compared to June and 20 percent compared to April. Experts are convinced that the demand for apartments will continue to grow in the second half of the year. As Izvestia was told at the Etazhi company, liquid real estate objects could rise in price by five to seven percent by the end of 2022 against the backdrop of a stabilization of the market situation.
The development company Level Group expects that within a few months the price of apartments in residential complexes will increase by three to five percent. According to the forecast of the Osnova group of companies, by the end of the year the dynamics of price growth in the primary market will reach 10-12 percent. In the coming months, according to experts, the price increase will be two percent.
Earlier, CIAN published data, according to which for the year – from July 2021 to July 2022 – apartments in new houses have risen in price most strongly in Yaroslavl. Ryazan was in second place, Rostov-on-Don and Chelyabinsk shared third place.
