The Real Estate Market in the Russian Federation

Russian Economic Developments 2013, No. 1, p. 64

6 Pages Posted: 23 Mar 2013 Last revised: 18 Jun 2013

See all articles by Georgy Zadonsky

Georgy Zadonsky

Gaidar Institute for Economic Policy

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Date Written: January 24, 2013

Abstract

In January-October 2012, entities of all the forms of ownership built 476,500 apartments with the total floorspace of 40.1m sq. meters which amounts to 103.8% on the respective period of 2011. The ratio between the price of housing and households’ income in 2012 points to the fact that housing became less affordable both on the primary and secondary markets. The weighted average interest rate on mortgage housing loans (MHL) in rubles increased within a month from 11.4% as of December 1, 2011 to 12.4% as of November 1, 2012. The debt on MHL as a share of GDP increased to 4.11% as of October 1, 2012 which figure exceeds by 1.51 p.p. the highest pre-crisis value of the year 2008.

Keywords: Russian economy, real estate market, mortgage in Russia

JEL Classification: G21, K11, L74, L85, R14, R21, R31, R52

Suggested Citation

Zadonsky, Georgy, The Real Estate Market in the Russian Federation (January 24, 2013). Russian Economic Developments 2013, No. 1, p. 64, Available at SSRN: https://ssrn.com/abstract=2238035

Georgy Zadonsky (Contact Author)

Gaidar Institute for Economic Policy ( email )

3-5 Gazetny Lane
Moscow, 125009
Russia

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