Real Estate Market in the Russian Federation in January-February 2014
Russian Economic Developments. 2014, №4. Pp. 38-41.
4 Pages Posted: 23 Apr 2014
Date Written: April 22, 2014
116,300 residential apartments were built in the period of January 2014 thru February 2014, with a total residential floor space measuring 8.7m sq. meters, an increase 34.3%. year-on-year. According to the Federal Service for State Registration, Cadastre and Cartography (Rosregister), in 2013 the volume of registered title to land pots (6623502 registered title deeds) including individuals, overtook by 4.16% the results achieved in 2012. Comparing with January 2013, the volume of HMLs issued in January 2014 (47724 loans of Rb 79,294bn) increased 41.8% in quantity and 51.8% in monetary terms. As of February 1, 2014, overdue debt on ruble-denominated HMLs as percentage of the residual debt slid down by 0.49 p.p. against February 1, 2013 and stood at 1.0%. The weighted average interest rate on ruble-denominated HMLs was 12.3% in January 2014, being 0.4 p.p. higher than the lowest value in 2013.
Keywords: Russian Economic, Real Estate Market
JEL Classification: G21, K11, L74, L85, R14, R21, R31, R52
Suggested Citation: Suggested Citation