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The Real Estate Market In The Russian Federation In H1 2013

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  • Georgiy Zadonsky

    (Gaidar Institute for Economic Policy)

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    Abstract

    In the first six months of 2013, 278,200 apartments with the total floorspace of 22.6m sq. meters were built. The average actual cost of building of 1 sq. meter rose by 11.8% in the first six months of 2013 as compared to the same period of 2012 and amounted to Rb 35,628, while the ratio between the price of 1 sq. meter of housing on the primary market and the cost of building of 1 sq. meter decreased within the same period by 7.0 p.p. and amounted to 138.5%. In the first six months of 2013, the volume of registration of individuals’ titles to land plots increased by 5.9% as compared to the first six months of 2012. In January-July 2013, 410,880 mortgage housing loans (MHL) worth Rb 663.6bn were extended which figure exceeds by 28.1% the monetary volume of MHL extended in January-July 2012. In July 2013, the average weighted monthly rate on MHL in rubles fell to 12.5%.

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    Bibliographic Info

    Article provided by Gaidar Institute for Economic Policy in its journal Russian Economic Developments.

    Volume (Year): (2013)
    Issue (Month): 10 (October)
    Pages: 37-42

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    Handle: RePEc:gai:recdev:215

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    Keywords: : REAL ESTATE MARKET;

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