Real Estate Market in the RF in January-April 2014
Russian Economic Developments. Moscow, 2014, #7, pp. 34-37
4 Pages Posted: 31 Jul 2014
Date Written: July 28, 2014
In January-April 2014, 231,100 apartments with floorspace of 17.9m sq. meters which amounts to 127% on the respective period of 2013. In Q1 2014, the average actual cost of building of 1 sq. meter of residential housing rose by 12.52% as compared to Q1 2013 and amounted to Rb 39,290. The ratio between the price of 1 sq. meter of housing on the primary market and the cost of building of 1 sq meter of housing decreased within the same period by 12.64 p.p. and amounted to 127.09%. In Q 1 2014, the volume of registration of titles of individuals to land plots (1.26m certificates) rose by 0.87% as compared to Q1 2013. In January-April 2014, Rb 496.2bn worth of 291824 mortgage housing loans (MHL) was extended which values exceeded the number and the monetary value of MHL extended in the respective period of 2013 by 37.92% and 45.47%, respectively. A drop in the monthly average rate on MHL in rubles in March 2014 changed for a 0.3 p.p. increase to 12.3% in April.
Keywords: Russian economy, real estate market
JEL Classification: G21, K11, L74, L85, R14, R21, R31, R52
Suggested Citation: Suggested Citation