Apartments in new Russia for 6 years went up by 40 percent

For six years — from 2014 to 2019 the average cost of housing in major cities in Russia have jumped by 38.6 percent to 107,3 thousand rubles per 1 square meter, according to statistics.

In January 2020, the cost of 1 square meter in major cities rose to a new record. Moscow leads in the high cost of housing is about 177 thousand rubles per square meter.

In 2009-2010 was lower prices, and then prices increased for the 4 years prior to the crisis 2014-2015. In 2016, the market began to recover due to the decline in mortgage rates.

the Last 2 years in the country was the mortgage boom and high demand for housing. The most noticeable jump in prices for primary housing have occurred in 2019, resulting in “Izvestia” statistics.

In the coming years, housing prices may rise 25 percent because of the new rules of construction — the houses are built only at the expense of the credit, not the money of shareholders.