Housing prices in Russia could grow by 25%

a New scheme of work with real estate investors protect citizens, and increased the requirements to the developers. They build slower, and this can lead to an increase in the cost of housing in the quarter for 2 years, predict developers and experts.

a disappointing forecast became known in the Federation Council. The first Deputy Chairman of the Federation Council Committee on agrarian and food policy and nature management Sergey Lisovsky previously participated in the development of the law on joint construction. This law changed the rules of the game in the real estate market. Now developers do not directly attract the money of citizens for construction.

the money is stored on special accounts in banks (escrow account), and builders to erect houses through loans and only after the commissioning of the house, get back the money spent. But the banks are hard on developers — not all companies were able to pass a rigorous selection and obtain credits for construction. The price increase will affect the cost of loans because earlier developers were attracted by the money “for free” — just from co-investors.

According to Lisowski, the price increase will become apparent in the summer of 2021.

“Izvestia” interviewed developers and they agreed on one thing — prices will increase up to 20-25% depending on the region. In Moscow marked increase in the cost of housing by 9-13%.