The Real Property Market in the Russian Federation in Q1 2015
Russian Economic Developments. Moscow, 2015, #7, pp. 39-42
4 Pages Posted: 4 Aug 2015
Date Written: July 24, 2015
In January–April 2015, entities of all the patterns of ownership built 295,100 apartments with the total floorspace of 23.4m sq. meters which is equal to 128.4% as compared to the respective period of 2014. In Q1 2015, the average actual cost of building of a sq. meter of housing rose by 1.25% as compared to Q1 2014 and amounted to Rb 39,790. In Q1 2015, the volume of registration of individuals’ titles to land plots (1,358,000 certificates) increased by 8.23% as compared to Q1 2014. In January–April 2015, 184426 mortgage housing loans (MHL) for the total sum of Rb 297,819 bn were extended (it is 36.75% and 39.66% lower in quantitative and monetary terms, respectively as compared to January–April 2014). In April 2015, the weighted average rate on MHL extended within a month in rubles amounted to 14.05% against 14.7% in March.
Keywords: Russian economy, Russian real estate market
JEL Classification: G21, K11, L74, L85, R14, R21, R31, R52
Suggested Citation: Suggested Citation