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Real Estate Market In The Russian Federation In Q1 2013

Author

Listed:
  • Georgiy Zadonsky

    (Gaidar Institute for Economic Policy)

Abstract

126,100 apartments covering a total of 10.4 million square meters floor space were constructed in Q1 2013, accounting for 106.5% against Q1 2012. Average actual cost of construction of 1 square meter in the housing total floor space increased 7.89% in Q1 2013 vs. Q1 2012 and amounted to Rb 34,920. The ratio of the price of 1 square meter of residential floor space in the total floor space in the primary housing market to the cost of construction of 1 square meter of the residential floor space increased by 0.85 p.p. over the same period and stood at 139.75%. State registration of land title for individuals (1,243m title deeds) increased 6.24% in volumes in Q1 2013 vs. Q1 2012. 211480 housing mortgage loans (HMLs), Rb 341,0bn, were issued from January to April 2013, showing an increase of 27.52% vs. April 2012. In April 2013, monthly growth in the weighted average interest rate on ruble HMLs gave way to a decline for the first time since November 2011. The interest rate decreased 0.3 p.p., falling to 12.6%.

Suggested Citation

  • Georgiy Zadonsky, 2013. "Real Estate Market In The Russian Federation In Q1 2013," Russian Economic Development, Gaidar Institute for Economic Policy, issue 7, pages 38-41, July.
    • Handle: RePEc:gai:recdev:161
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    More about this item

    Keywords

    : REAL ESTATE MARKET;

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • K11 - Law and Economics - - Basic Areas of Law - - - Property Law
    • L74 - Industrial Organization - - Industry Studies: Primary Products and Construction - - - Construction
    • L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services
    • R14 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Land Use Patterns
    • R21 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Housing Demand
    • R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Housing Supply and Markets
    • R52 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Land Use and Other Regulations

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