The Real Estate Market in the Russian Federation in H1 2013

Russian Economic Developments. Moscow, 2013, #10, pp.37-42

6 Pages Posted: 30 Oct 2013

See all articles by Georgy Zadonsky

Georgy Zadonsky

Gaidar Institute for Economic Policy

Date Written: October 30, 2013

Abstract

In the first six months of 2013, 278,200 apartments with the total floorspace of 22.6m sq. meters were built. The average actual cost of building of 1 sq. meter rose by 11.8% in the first six months of 2013 as compared to the same period of 2012 and amounted to Rb 35,628, while the ratio between the price of 1 sq. meter of housing on the primary market and the cost of building of 1 sq. meter decreased within the same period by 7.0 p.p. and amounted to 138.5%. In the first six months of 2013, the volume of registration of individuals’ titles to land plots increased by 5.9% as compared to the first six months of 2012. In January-July 2013, 410,880 mortgage housing loans (MHL) worth Rb 663.6bn were extended which figure exceeds by 28.1% the monetary volume of MHL extended in January-July 2012. In July 2013, the average weighted monthly rate on MHL in rubles fell to 12.5%.

Keywords: Russian economy, real estate market

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

Suggested Citation

Zadonsky, Georgy, The Real Estate Market in the Russian Federation in H1 2013 (October 30, 2013). Russian Economic Developments. Moscow, 2013, #10, pp.37-42, Available at SSRN: https://ssrn.com/abstract=2347301 or http://dx.doi.org/10.2139/ssrn.2347301

Georgy Zadonsky (Contact Author)

Gaidar Institute for Economic Policy ( email )

3-5 Gazetny Lane
Moscow, 125009
Russia

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