Experts: new buildings will rise in price by 15%

Experts: new buildings will rise in price by 15%
Experts: new buildings will rise in price by 15%
22 September 2020, 09:25EconomyPhoto:
Experts say, that the increased demand for the apartments in new buildings, which can be purchased under the preferential mortgage program, will lead to an increase in prices for this kind of the real estate by 12-15%.

Alexey Popov, the head of the CIAN analytical center, told Izvestia that the rise in prices was influenced by both the preferential mortgage program and the entry of inverters to the market.

The head of the federal real estate company Etazhi Ildar Khusainov told the publication that in a number of Russian regions by the end of 2020, the price of one square meter in the primary real estate market will increase by more than 15%.

According to market participants, the rise in prices for secondary housing will amount to 7% by the end of the year.

Recall that the program to subsidize mortgage interest rates up to 6.5% was launched on behalf of Russian President Vladimir Putin in April and will be in effect until November 1. The head of the state corporation DOM.RF, Vitaly Mutko, indicated that more than half a million Russians are applying for preferential mortgages. At the end of last month, more than 130 thousand loans for 360 billion rubles were approved.

Note that at present, about 75% of new housing in the country is purchased through mortgages, this tool is used annually by up to a million families.

According to network analyst Dmitry Maslov, there is a direct relationship between real estate prices and the cost of oil, and therefore it is possible to analyze how high or low prices per square meter are at any given moment.

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