The Real Estate Market in the Russian Federation in H1 2014
Russian Economic Developments. Moscow, 2014, #10, pp. 35-40
6 Pages Posted: 23 Oct 2014
Date Written: October 23, 2014
In H1 2014, 375,800 apartments with the total floorspace of 29.4m sq. m. were built which value amounted to 130.2% on the respective period of the previous year. In Q2 2014, the average actual cost of building of 1sq m of housing increased by 13.55% as compared to Q2 2013 and amounted to Rb 40,456, while the ratio between the price of 1 sq. m of housing on the primary housing market decreased within the same period by 12.6% and amounted to 125.86%. In H1 2014, the volume of registration of individuals’ titles of ownership (2,796,474 certificates) to land plots increased by 1.69% as compared to H1 2013. In January-July 2014, 538,482 MHL for the total amount of Rb 927,038 bn were extended which value exceeds the volume of MHL extended in January-July 2013 by 39.67% and 31.01% in monetary terms and as regards the number of loans, respectively. In July 2014, the weighted average rate on MHL extended in rubles within a month fell by 0.02 p.p. to 12.21% as compared to July.
Keywords: Russian economy, Russian real estate market
JEL Classification: G21, K11, L74, L85, R14, R21 , R31, R52
Suggested Citation: Suggested Citation