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The Real Estate Market in the Russian Federation

Author

Listed:
  • Georgy Zadonsky

    (Gaidar Institute for Economic Policy)

Abstract

In January-October 2012, entities of all the forms of ownership built 476,500 apartments with the total floorspace of 40.1m sq. meters which amounts to 103.8% on the respective period of 2011. The ratio between the price of housing and households’ income in 2012 points to the fact that housing became less affordable both on the primary and secondary markets. The weighted average interest rate on mortgage housing loans (MHL) in rubles increased within a month from 11.4% as of December 1, 2011 to 12.4% as of November 1, 2012. The debt on MHL as a share of GDP increased to 4.11% as of October 1, 2012 which figure exceeds by 1.51 p.p. the highest pre-crisis value of the year 2008.

Suggested Citation

  • Georgy Zadonsky, 2013. "The Real Estate Market in the Russian Federation," Russian Economic Development, Gaidar Institute for Economic Policy, issue 1, pages 64-69, January.
    • Handle: RePEc:gai:recdev:59
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    More about this item

    Keywords

    Real Estate; Russian Federation;

    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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