Russia was on the 15th place among 56 countries in the rate of increase in average housing prices. As follows from the study of The Global House Price Index for the first quarter, they increased by 7.1%, which is almost two times higher than the average values. The global list was headed by Turkey, where growth reached 15%, and New Zealand, where housing became more expensive by 14.5%. Factor of a pandemic may affect the results of the second quarter. But experts do not expect for the year to significantly lower prices in Russia and other countries where demand supports subsidizing interest rates on mortgage loans or mortgage vacation.In the first quarter of this year the average housing prices in Russia increased by 7.1%, whereas world average is only 4.4%. Such data in their study, The Global House Price Index Knight Frank leads. Analysts have studied the prices in 56 countries, of which 98% fixed prices, 1.2% is a small decline, in others there has been stagnation. Russia was on the 15th place, and the year before took 13-th position.The leader of the first quarter by an increase in the cost of housing was Turkey (15%), but analysts say high inflation of the Lira, which brings the real increase is only 6%. In second place, according to estimates by Knight Frank, was New Zealand, where real estate has risen by 14.5%. A year earlier in the ranking of the Global House Price country occupies only 27-e a place. Leap analysts with low interest rates on mortgage loans and increasing demand.Director of foreign real estate Knight Frank Marina Shalaeva waiting for the pandemic COVID-19 crisis largely hit the sales in New Zealand than on prices. So, in the country in April, the number of transactions decreased by 79%, while the cost of housing remained stable: “it is Unlikely that the sellers are in countries where low interest rates on housing loans or where the declared mortgage vacation, will reduce the asking price”.Factor of a pandemic may affect the results of the second quarter, including in Russia. So, in April, when it was introduced a regime of self-isolation, in the primary market of Moscow was a 3.85 thousand contracts equity, and in may of 3.1 million, which is 49% and 59% below the values of the same months last year respectively. Such data results in management of rosreestra Moscow. In the secondary market in April the fall was estimated at 65% (to 5.2 thousand contracts on assignment of rights), in may — by 64% (to 3.9 million).Managing partner of “Metrium” Maria Litinetskaya expects that by the end of the year reduced demand for new buildings will be 20-30%. As for prices, the lady Litinetskaya expects two scenarios: either they will be reduced by 2% for the year, or will show growth of 5%.But this opinion is not shared by all consultants. Director of the company “Floors” Ildar Khusainov explains that after the decline on June 19 Centrebenkom key rate to 4.5%, banks can go for the cheaper of all loans for home purchase, offset by the gap between the cost of mortgages on the secondary and primary markets. He fears that further rate cuts could lead to the heating up demand, which will run the offer.Alexander Mursalovitch: Knight Frank.
